Telefónica returns to blaze of demand as tight FT, Linde widen
September’s remarkable run of corporate bond issuance continued into a third day on Wednesday, as investors ploughed money into a wide variety of European corporate risk, in preference to almost anything else.
The market performance was not quite so pristine as in the previous two days some of the high grade deals widened from launch but investors receptivity to issues remained razor-keen.
No deal showed that more clearly than that for Telefónica, the Spanish telecoms company. It was
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