Demand for strong names in FIG market
Negative economic data and bank issuers reluctant to tap the market maintained a supply-demand imbalance for stronger FIG names on Thursday, although investors could see some respite on Friday — KA Finanz, the bad bank of nationalised Austrian lender Kommunalkredit, is taking IOIs for a senior deal, led by Bank of America Merrill Lynch.
Demand for the stronger FIG names from core regions was high, with underinvested accounts chasing a dwindling number of bonds on the secondary market as they looked to put money to work.
But more senior issuance was now likely to wait until late August or even September, syndicate bankers
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