Europe

As the European high yield market shows signs of becoming friendlier to borrowers, French car parts supplier Faurecia on Tuesday offered €500m of notes to redeem a €490m unsecured bond.

TriOptima the over-the-counter post-trade service provider, has torn up more than $750tr in notional principal outstanding contracts since it launched its compression service for OTC derivatives in 2003, the firm said on Monday.

Humana, the Swedish care provider, had by Monday morning obtained a covered book for its initial public offering, which could total up to Skr832m ($100m).

Secure Income Reit, the UK business that listed on London’s junior stock exchange nearly two years ago, has launched a secondary placing of shares in a bid to widen its shareholder base.

Creditors have rejected the chance to sell to the Austrian province of Carinthia discounted bonds in Heta, the bad bank created in 2009 to dispose of the assets of Hypo Alpe Adria.

Landesbank Hessen-Thueringen Girozentrale (Helaba) returned to the euro covered bond market on Tuesday for its second deal of the year, as Royal Bank of Canada was set to issue the second deal from a Canadian bank in dollars this year. Bank dealers reported more mixed flows in the secondary market compared to last week but sentiment is still positive.

A Swedish agency is set to make its long awaited debut in the green bond market on March 15.

L-Bank is set to print a five year dollar benchmark as investors eagerly await the outcome of this week’s Federal Open Market Committee (FOMC) meeting.

Telefónica Deutschland, the German subsidiary of telecommunications group Telefónica SA, is in the market for a syndicated loan, according to bankers.

The government of Catalonia is confident that it will soon be able to complete a plan to convert some of its debt from short term to long term, a delay in which led Moody’s to place the region’s Ba2 rating on review for downgrade last week.

Parex Group, the French producer of chemicals for the building industry, began roadshowing on Monday for a €150m floating rate note, in the busiest month yet this year for the European high yield market.

Bulgaria opened books on a dual tranche euro denominated note on Monday, becoming the first CEEMEA name to pounce on the post-European Central Bank (ECB) meeting relief rally.