Crédit Agricole

Polish media group Cyfrowy Polsat is in talks with banks to refinance around €589m-equivalent of debt as it seeks to fulfill the necessary conditions to complete its purchase of Metelem Holding Co, owner of telecom firm Polkomtel.

French carmaker Renault obtained a whopping €6.2bn book for its €500m seven year bond yesterday, as it rode the wave of demand for crossover-rated corporate bonds.

BP continued a busy month of bond issuance today with a €2bn issue, which echoed in scale the €2.5bn dual trancher it sold in February 2012.

The European market will have to wait. After talk that Ceva Santé Animale, the French maker of veterinary vaccines, would raise the first euro-only covenant-lite leveraged loan since the financial crisis, it has now emerged that the €700m transaction will also include a dollar tranche.

Renault, the French carmaker rated Ba1/BB+, benefited from the strong demand for crossover credit today when it priced a €500m no-grow bond with a new issue premium of just 5bp.

IFC Development could make its first appearance in euros this week, with bankers expecting the borrower to launch a three year deal following a successful roadshow in Europe.

Multi-billion euro tobacco bonds are rare, but this week has produced two in as many days. They nearly came on the same day, but Imperial Tobacco decided discretion was the better part of valour yesterday when Philip Morris International got into the market ahead of it, before 8am London time.

Casino Guichard-Perrachon, the French supermarket group, launched its first bond of the year on Friday, after announcing strong full year results on Tuesday last week.

Diaverum, the Swedish operator of dialysis clinics, has mandated five banks to arrange €708m of senior credit facilities, but has yet to pick a left lead.

Darty Financements made its bond debut in Europe's near-empty high yield market this week.

ThyssenKrupp sold a €1.25bn 5.7 year bond on Wednesday. The investment grade-style deal had a 15bp-20bp new issue premium and performed in the aftermarket, suggesting strong demand for crossover credit.

French financial specialists have published their Charter for the Euro Private Placement market, intending to foster the market’s development by informing issuers, investors and dealers about best practice, writes Jon Hay.