Daimler unleashes non-core FX bonanza
Daimler International and its Canadian subsidiary tapped a variety of non-core sectors this week on the back of European investors’ strong demand for German autos in alternative currencies. The trades were emblematic of the growing confidence in corporate versus government or agency bonds.
"Investors are shying away from EU governments and agencies and looking more for European corporate names, where the borrower has a finite borrowing requirement," said Paul Eustace, head of syndicate at TD Securities.
Daimler Canada issued a Eurobond in Canadian dollars on Wednesday a C$125m 2.5% three year
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