Air France-KLM set to fly on
Air France-KLM, the unrated Franco-Dutch airline, returns with a benchmark euro seven year issue this week, after a two year absence from the corporate bond market. While some bankers warned that bad news surrounding the airline industry could have made this a difficult issue, investor demand for unusual and higher yielding names is still soaring, as demonstrated by a Eu300m 7.25% five year deal for German automotive parts supplier Hella Hueck on Tuesday. Read EuroWeek on Friday for the latest on this deal as well as on other investment grade issues.
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