SG and the French securities firm Natexis Capital have launched the third equity-linked bond issue of the year from France, a €173m ($149m) deal for Marionnaud Parfumeries, the cosmetics retailer.

The two banks were joint bookrunners on the deal, which was more than four times oversubscribed. The company said it launched the sale, which follows issues from Technip-Coflexip, the French engineering firm, and Publicis, the French marketing group, to finance growth in Italy and Spain.