Europe

Barclays is looking to restart additional tier one (AT1) issuance in the sterling market this week, taking advantage of a lack of supply in the format and strong interest from investors over the course of 2017.

German generic pharmaceuticals company Stada opened a structured bidding process over the weekend for the numerous offers tabled for the firm, with Advent International’s binding €58 per share offer expiring on Monday.

TSB Bank has received regulatory approval and a rating for a £5bn residential mortgage-backed covered bond programme, the first new programme from a UK issuer since 2011.

Russian Railways marked the end of the national holiday in its home market by emerging with pricing for a new seven year Eurorouble note on Monday.

Since the global crisis, plenty has been written about banks paring back their lending activities and more stringent capital adequacy rules limiting funding opportunities, particularly for higher-risk borrowers such as smaller companies.

Swiss commodities trader Ecom is back in the market for a one year revolver, mandating four banks for the $400m borrowing.

Apax Europe has sold its last remaining shares in Capio, the Swedish private healthcare group, for Skr660m (€70m).

Swedbank launched a new five year on the back of ‘extraordinarily tight’ secondary levels on Friday, taking advantage of strong dynamics in the preferred senior market and a remarkable year for Swedish debt.

Oversea-Chinese Banking Corporation (OCBC) has mandated leads to roadshow its debut covered bond. The announcement comes ahead of what is expected to be a relatively quiet week ahead reflecting German holidays and improved funding conditions for senior unsecured.

ParexGroup, the French construction chemicals maker, has scheduled a bank meeting for Monday for an €865m seven year term loan to refinance €700m of floating rate notes, as Irish telecoms firm Eir released price guidance on Friday for its €1.6bn loan refinancing.

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