Thyssen’s €1.25bn shows crossover appetite
ThyssenKrupp, the German steel and machinery maker, made a rare visit to the bond market on Tuesday, tapping into the surge of confidence in European credit since the new year to launch one of the largest crossover-rated bonds in euros.
The biggest demand in recent corporate bond sales has been for deals from Spain and Italy out of favour for most of the second half of last year. ThyssenKrupps 1.25bn five year issue showed that investors new lust for the more exotic end of the investment grade
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