TDC raises Eu11bn as demand for corporate bonds surges

Danish telecoms firm TDC and Dutch utility company TenneT showed this week that bond investors are still craving investment grade corporate assets. Private equity-controlled TDC, returning to the market after being upgraded from junk in the last two months, found Eu11.25bn equivalent of orders as it prepared to issue Eu1.6bn and £550m of notes — the biggest amounts sold in either currency by a corporate borrower this year. TenneT’s Eu1bn bond raised Eu7bn of orders.