Demand for unrated names unabated as Evonik scores
German industrial group Evonik Industries proved that bond market demand for unrated issuers is still riding high when it garnered $5.2bn of orders for its $750m five year deal on Tuesday from 400 accounts. Bankers predict that as supply begins to wane between now and the end of the year, lower rated names, cross-over and unrated deals will remain in favour and keep the market ticking over. Read EuroWeek on Friday for the latest on upcoming deals.
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