Top tier prints senior but real test still to come
Four top tier issuers took advantage of a window of positive sentiment and tightening spreads this week to price oversubscribed deals with strong aftermarket performance, in what was the senior unsecured FIG market’s busiest week by volume since late May.
But while the market appeared to be waking from its slumber, wary bankers warned that it was too soon to say the bank funding crisis was over. The deals showed the market was moving in the right direction, but weaker names could still struggle, they said.
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