Swiss Confederation, KfW, Pemex sell $5bn of exchangeables as Dow leaps
The Swiss Confederation, Mexican state owned oil
company Pemex and KfW, the German state development bank, all
issued exchangeable bonds this week, in yet another week of
frenetic activity for the equity capital markets.
The deals came as the Dow Jones Industrial Average broke back
through the 10,000 mark on Monday, taking it back to the heady
levels of the last bull market. The Dow closed at over 10,000
yesterday (Thursday) for the first time since May 2002.
The three deals, exchangeable into shares of Swisscom,
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