Rate uncertainty drives corporate issuers to build wall of bonds
This week is shaping up to be another stormer for European corporate bond new issues. Despite Monday’s holiday, €7.6bn of deals are already on the clock, and bankers across the street say Thursday will be busy too.
That means last week’s total of €10.6bn, swelled by AT&T’s €2bn deal, might be matched.
Highlights so far this week include yesterday’s two dual tranche deals of €1.5bn, for Anglo American and Total. Demand is strong for issues of all kinds, from double-A titans like Total to unrated
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