Kingfisher joins buyback queue as corps continue deleveraging push
Kingfisher, a UK home improvement retailer, announced a £100m buyback of its only sterling bond on Monday in a further sign that European corporate borrowers have ample cash on their balance sheets and little need to issue new debt.
Kingfishers move, which includes a repurchase of most of its $325m of US private placements, came on the same day that UK utility National Grid said it would buy back Eu450m of notes.
We could see more of these exercises, said a syndicate banker in London. The fact is
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