Investors unfazed by ‘pure Italy risk’ in peripheral Europe corporate rally
The recovery of Europe’s credit appetite forged ahead this week as several southern European borrowers found rampant demand for their bond issues and new issue premiums for many kinds of borrower tightened.
On Thursday the bull run passed an important milestone, with a highly successful 1bn seven year bond by Atlantia, the Italian toll road company. Unlike most peripheral issuers in recent months, Atlantias revenues come almost entirely from its home country.
"Its the first deal offering pure Italy risk,"
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