Europe’s trickle of unrated deals contrasts with Glaxo, BP megadeals in US
Europe’s corporate bond market showed some glimmers of life today as two unrated companies announced roadshows. But these flickers are as nothing compared with the blaze of deals in the dollar market, where GlaxoSmithKline yesterday broke a three year absence from the bond market with a $5bn blowout.
BP also raised $3bn on the same day, confirming a strong start to what some bankers believe could be a $120bn month for US corporate bond issuance, including financial institutions.
Strabags 100m Austrian retail-targeted deal is still the only investment grade issue this week by a company in the
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