Europe

On Tuesday, Gecina, the French property company, latched onto the latest trend for issuance in the multi-tranche European corporate bond. The triple tranche €1.5bn deal will be used to refinance part of the bridge facility used by Gecina to acquire Eurosic.

EuroChem had taken books of $1.2bn by lunchtime on Tuesday after opening books on a four year trade a week after finishing its roadshow. Falling oil prices and a Russia sovereign trade last week meant the issuer decided to wait for a firmer market before launching its deal.

Lietuvos Energija UAB will begin marketing the first international corporate green bond from central and eastern Europe (CEE) on Thursday.

Nomura confirmed that it has begun applying for a licence in Germany to operate a new Frankfurt-based entity, as a preparation for the UK’s exit from the European Union.

L1 Retail, the retail division of holding company LetterOne, has agreed to buy UK health food retailer Holland & Barrett from Carlyle for £1.77bn. The deal comes after one global financial sponsors head at a bank forecast less traditional sponsors, such as LetterOne and SoftBank, to become important players in the buyout market.

Playtech’s founder is selling a major chunk of his stake tonight, for up to £317.9m, after shares in the gaming software developer have surged 20.3% this year.

General Atlantic, the investment firm run by William Ford, launched on Monday night the sale of half its remaining stake in Axel Springer, the German media group. The €123m sale is covered, the range has been tightened and books are closing at 6.30pm.

Germany’s Jost Group, which makes safety systems for trucks and trailers, wants to list in Frankfurt to raise €130m of new capital and a yet-to-be-determined amount for the selling shareholders.

The Commodity Futures Trading Commission (CFTC) has allowed Euronext to provide US investors with direct access to CAC 40 and AEX dividend index futures.

Daimler was the only company to issue a new bond in the European market on Monday, but it brought a huge, €4bn deal. And it maintained the recent trend for pushing out to longer maturities.

Carmila, the retail property owner and manager owned by Carrefour, launched its capital increase today, seeking €503m of new capital, after its merger this month with Cardety.

The euro market for public sector borrowers looks set to kick back into action after a quiet last week, with a pair of big borrowers mandating for trades to come on Tuesday.