Crédit Agricole

Europe's high yield market has made a remarkable comeback in the past fortnight, crowned this week when Ball Corp, the US can maker, priced a €2bn-equivalent bond, highlighting the bullishness of euro markets inflated by QE, writes Victor Jimenez.

In a busy week for block trades in Europe’s equity capital market, Tuesday saw Bank of America Merrill Lynch is in action again, the day after its €750m trade in Safran shares with Barclays.

FIG bankers rejoiced this week as two markets that have been much maligned this year — insurance capital and sterling senior — showed enduring appeal just in time for a year end funding grab.

Carlyle Group has sold its stake in RAC, the UK roadside recovery firm, to CVC Capital Partners in a deal that values the business at £2.2bn, including debt.

Dümmen Orange, the Dutch flower breeder, has allocated its acquisition loans in an early bird syndication. The facilities are for BC Partners’ buyout of the firm from H2 Equity Partners and the Dümmen family.

A group of retail equity and bond investors in Abengoa are preparing to file a civil lawsuit in Spain — but hope a class action in the US will speed up proceedings.

Terex, the US lifting and material solutions company, has launched $900m of senior secured credit facilities to back its acquisition of Finnish crane maker Konecranes.

A $1.5bn refinancing for Tata Steel has finally been opened into syndication, with invitations going out to a limited number of banks on Thursday. The company’s Singaporean subsidiary is raising the loan, which offers lenders an added incentive if they book the deal in the country.

The French bank opened books for an eight year benchmark on Tuesday. The initial double digit spread looked generous and ensured the first covered bond to be issued in December got off to a flyer.

Dümmen Orange, the Dutch flower breeder, has allocated its acquisition loans in an early bird syndication. The facilities are for BC Partners' buyout of the firm from H2 Equity Partners and the Dümmen family.

Investors showed enduring appetite for insurance capital on Wednesday as Scor found more than €2bn of demand for the second French deal in as many days.

Export Development Canada (EDC) printed its long awaited green bond on Tuesday. While it did not move on pricing, bankers on the deal said it was a strong trade for a sub-benchmark size.