Upsized from $400 million, the transaction is the largest the market has seen so far this year and the first of 2013 to top the $1 billion mark.
The business will seek out investment opportunities in the subinvestment-grade and mezzanine debt of middle-market issuers.
A nascent private bond market is developing in France, and participants expect it to grow significantly over the next year or two, with an increasing number of transactions from French issuers, as well as some from companies based in other European countries.
Bank of America Merrill Lynch held on to its long-running number one spot on the league tables for the first half of 2013, but another bank is nipping at its heels.
The recent increase in Treasury rates has led to some delays on the private placement market, including a deal from Universal Truckload, market participants say.