GBL-Suez adds to exchangeable action
The fifth deal of last week, a €400m exchangeable from Groupe Bruxelles Lambert into Suez Environnement, was priced on Friday by joint bookrunners BNP Paribas, Deutsche Bank and Morgan Stanley.
The unusual Friday launch of the GBL-Suez bonds came after a strong response to pre-sounding on Thursday, even after $1.7bn of supply earlier in the week from four other deals.
But while new issue demand remained strong and allowed the deal to be priced towards the low end of
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