Areva turns lead order into finely priced €400m tap

Areva, the French nuclear power group whose rating was cut two notches in December, today raised €400m with a tightly priced tap of its October 2017 bond, in response to a reverse enquiry. The deal comes almost two months after a roadshow in the UK and France failed to yield an issue, and is a further sign of European investors’ willingness to buy a wide range of corporate risks.