Blackouts put brakes on company bond sales

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Blackouts put brakes on company bond sales

February 04, 2009 12:00 am

If it is a little quieter than recent weeks in the corporate bond market, it is only because supply is drying up as firms go into their pre-results blackout periods. Investors are still hungry for paper, allowing issuers that have approached the market to see their deals fly. Deals from RWE and La Poste yesterday pushed the issuance for 2009 past the Eu50bn mark, and today, Shell’s offer of three and seven year paper (marketed with revised guidance of mid-swaps plus 90bp to 100bp and plus 120bp to 130bp respectively) has attracted a book of Eu10bn. To find out how all the deals in the primary market this week fare, read EuroWeek this Friday.

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