A pair of French fancies on offer on Wednesday in corporate market
Both investment grade corporate bond new issues on Wednesday came from French issuers. Surprisingly, Total issued its first euro bond of 2017, while PSA Banque France sold its second.
Historically, oil company Total has been a frequent issuer of euro bonds. It sold €7bn in 2016 and more than €5bn in each of the two previous years. However, until Wednesday, its only bond in 2017 was a £250m seven year deal sold earlier this month.
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