Industrials in the frame
Cyclical names keep finding demand, with industrial and aerospace names in the market this week. ThyssenKrupp is today selling a Eu500m tap of a four year bond at 335bp over mid-swaps, 95bp tighter than its launch spread at the end of February. Deutsche Bank, Calyon, Commerzbank and UniCredit are on the deal. UK eyes are on the government’s Budget today, but the sterling market is expected to absorb two new issues tomorrow with Rolls-Royce heavily rumoured. Will it fly? Read EuroWeek on Friday.
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