Rare issuer Solvay unsticks growing hybrid market

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Rare issuer Solvay unsticks growing hybrid market

Solvay
A logo sign outside of a facility occupied by Solvay S.A., in Thorofare, New Jersey on December 11, 2016. Photo by Kristoffer Tripplaar *** Please Use Credit from Credit Field *** | Kris Tripplaar/SIPA USA/PA Images

Belgian chemicals manufacturer Solvay sold its first public corporate bonds for three years on Tuesday when it reopened the European hybrid bond market, which has not seen a new issue since September. Despite the recent dearth of issuance, the market is still set to record an increase of more than 57% on 2017’s total volume.

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