2i Rete struggles as eyes turn to ECB QE decision
A benchmark deal from 2i Rete Gas, rated Baa2/BBB, was not in the same league as the storming transactions the corporate bond market saw on Monday. Those involved felt they were a day late arriving at the party.
“It seemed like we had a day where people said they wanted to wait for the ECB,” said a syndicate manager on the deal. “Investors also told us there had been lots of utility issuance, lots of Italy. The Engie tap was also slow, I understand.”
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