Companies start September sales
Fraport, the Frankfurt airport operator, got the corporate bond market up and running this week when it sold a Eu800m 10 year deal on Tuesday at 180bp over mid-swaps. Leads Commerzbank, Deutsche Bank, DZ Bank and LBBW priced it at the tight end of 180bp-200bp guidance and built a Eu2.8bn book. Today Banque PSA is launching an 18 month euro benchmark at 250bp over mid-swaps. Read EuroWeek on Friday for full reaction to the deals.
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