WPP and Iberdrola confirm risk appetite is back
Investors have piled into this week’s two European corporate bond issues, confirming that the enthusiastic mood of last week still holds ahead of the US rate decision and May Day holiday. UK advertising company WPP priced a Eu750m eight year bond yesterday with Eu5.5bn of orders, while Spanish utility Iberdrola built a book of Eu7.7bn yesterday to price a dual tranche Eu1.75bn bond today.
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