la levée (dans ce contexte)

English translation: bond issue

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:la levée (dans ce contexte)
English translation:bond issue
Entered by: Tereza Rae

14:50 Nov 14, 2020
French to English translations [PRO]
Bus/Financial - Business/Commerce (general)
French term or phrase: la levée (dans ce contexte)
I know that there are several entries for this word in this forum, but I'm still not sure which translation will best fit this context. It's part of the minutes of a company's board meeting:
"M. XXX déclare soutenir *la levée* à l’international par XXX S.A et émet les remarques suivantes :
Il s’agit d’une sortie inaugurale pour XXX S.A. Il est donc important de choisir le meilleur moment pour *la levée* car les taux peuvent varier sur une fourchette relativement importante, notamment les primes de risque liées à l'Etat ou XXX S.A. Il propose donc de réaliser *la levée* des deux milliards de dollars en plusieurs tranches pour mieux gérer les variations de maturité et de taux."
Thank you in advance for your suggestions.
Tereza Rae
Canada
Local time: 10:00
issue
Explanation:
The French term in full is "levée de fonds", which literally translates as "fundraising". Everything in the context you cited (interest rate fluctuations, sovereign yields, risk premiums, maturities) suggests that this is about issuing one or more bonds to finance the company's activities. That being the case, it seems to me the most likely and natural word to use in English in this context is "issue" (or, if you really want to spell it out, "bond issue"). I would also use "inaugural issue" for "sortie inaugurale".

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Note added at 11 mins (2020-11-14 15:02:23 GMT)
--------------------------------------------------

Ideally I should probably have put "(bond) issue" as the target term… and of course there's no way to edit it once an answer has been submitted.
Selected response from:

Rob Grayson
United Kingdom
Local time: 14:00
Grading comment
Thank you, everyone! Please see my comment in the discussion area.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +5issue
Rob Grayson
4the fund raising
Francois Boye
4 -4the levy
SafeTex


Discussion entries: 19





  

Answers


9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
issue


Explanation:
The French term in full is "levée de fonds", which literally translates as "fundraising". Everything in the context you cited (interest rate fluctuations, sovereign yields, risk premiums, maturities) suggests that this is about issuing one or more bonds to finance the company's activities. That being the case, it seems to me the most likely and natural word to use in English in this context is "issue" (or, if you really want to spell it out, "bond issue"). I would also use "inaugural issue" for "sortie inaugurale".

--------------------------------------------------
Note added at 11 mins (2020-11-14 15:02:23 GMT)
--------------------------------------------------

Ideally I should probably have put "(bond) issue" as the target term… and of course there's no way to edit it once an answer has been submitted.

Rob Grayson
United Kingdom
Local time: 14:00
Specializes in field
Native speaker of: English
PRO pts in category: 444
Grading comment
Thank you, everyone! Please see my comment in the discussion area.
Notes to answerer
Asker: Thank you for your suggestion, Rob! It all makes sense. Let's see if anyone else has a suggestion.


Peer comments on this answer (and responses from the answerer)
agree  Rachel Fell
1 hr

neutral  Francois Boye: la levée des fonds and l'émission d'obligations are two different expressions in French, aren't they?
1 hr
  -> And your point is? Translation is about finding the best words for the job. Which is what I've done.

agree  writeaway
1 hr

agree  philgoddard: Yes, clearly a bond issue.
1 hr

disagree  SafeTex: no proof that it's a bond issue and if it was, what about the remark about interest rates. Are they waiting for low interest rates before issuing bonds? It's possible but...
2 hrs

agree  Julie Barber: Fits well in the context but would it work for each instance of the term in the text?/ see initial context. A combination of your answer + variations on "raising capital" could work well/ not sure why one is speaking like the queen!
19 hrs
  -> One can only give an answer based on the context provided. // One might reasonably assume that the translator has the basic competence to be able to use those kinds of variations as appropriate. // Julie, your final comment is entirely inappropriate.

agree  Steve Robbie: Makes perfect sense, and is probably what I'd use in the given context.
20 hrs

agree  Yvonne Gallagher: of course this is the right term in this context
1 day 25 mins
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44 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -4
the levy


Explanation:
For me, there is NOTHING specific enough to say this is a share issue so the equivalent word in English is "levy"

SafeTex
France
Local time: 15:00
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 47
Notes to answerer
Asker: Thank you, but now I'm even more in doubt. Hoping to get some votes soon.


Peer comments on this answer (and responses from the answerer)
disagree  Tony M: 'levy' in EN has a very specific meaning which would be quite wrong in the context given.
56 mins
  -> I've entered a comment in the discussion on all this.

disagree  philgoddard: Of course it's not a share issue. It's bonds.
1 hr
  -> A bond issue is "émission d'obligations" in French.

disagree  Rob Grayson: It's not a share issue, it's a bond issue. And whatever it is, "levy" is not the right EN word. // Surely you're aware that there are often multiple ways to refer to the same thing?
1 hr
  -> a bond issue in French is "émission d'obligations". Why did they not use the standard term?

disagree  Yvonne Gallagher: I really don't see how "levy" would be correct here
23 hrs
  -> Well originally, the asker had not clarified with further text and all we had was "léveé" with nothing about émissions d'obligations". I should perhaps have said "raising funds" though rather than equity.
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
the fund raising


Explanation:
In American English, they say to raise and the fund raising or fundraising.

Fundraising. There are many ways to raise money.

Grants. Charities, social enterprises, political parties and co-operatives often receive part of their funding through grants
...
Debt. Debt finance, usually in the form of loans, may be obtained from banks or financial markets.

In this context, fundraising is about borrowing money on foreign financial markets.
Usually, borrowers issue bonds to attract lenders. But the issue of bonds at a specific value is not equal to the fundraising. Why? Because lenders might not buy all the bonds issued and the state of foreign financial market might force borrowers to change the terms of their bonds issued.

.
https://www.bing.com/search?q=to raise investopedia&qs=n&fo...

Francois Boye
United States
Local time: 10:00
Specializes in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 102
Notes to answerer
Asker: Thank you for your explanations! Things are starting to get clearer.


Peer comments on this answer (and responses from the answerer)
neutral  Rob Grayson: Given that the context is clearly about raising debt finance in the capital markets, I see no reason whatsoever not to call it a bond issue. // Are you seriously suggesting this is about interbank lending? On what basis?
46 mins
  -> you can raise funds among banks without issuing one single bond

neutral  Julie Barber: I think that a variation of this (fund raising sounds like a charity to me) does fit in some of the examples in the text
19 hrs

neutral  Yvonne Gallagher: fundraising in English associated with charities as has been said
23 hrs
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