Irish or not, CRH blowout shows market zing
A successful bond issue on Wednesday by CRH, the Irish building materials group, was the clearest sign yet of investors’ resurgent appetite for European corporate risk, amid the optimistic mood that has suffused bond markets in general since the new year.
It was the first Irish corporate bond in euros or sterling since a £275m issue by the Electricity Supply Board in February 2010, before the country had to seek a bailout in November 2010.
Some 280 investors across Europe, led by UK buyers, put in nearly 4bn of orders
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