Carrefour’s late strike wins €5.5bn book for €1bn
Carrefour, the French supermarket company, raised €1bn on Tuesday with a five year bond that achieved a very large book of €5.5bn from 420 investors — the kind of demand that recently, only southern European issuers have been able to command.
BNP Paribas and HSBC announced the Baa2/BBB stably rated bond as a benchmark on Tuesday morning at initial thoughts of 130bp area over mid-swaps.
They tightened guidance to 120bp-125bp and priced 1bn at the tight end.
"Its a great deal, whatever way you look at it," said one banker away
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