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Corporate Bonds

Illinois Tool Works in tune with zeitgeist: likes yield not spread

Yield sign from Alamy 230x150

A rough day for the corporate bond market on Wednesday did not bother Illinois Tool Works, which pressed ahead with its three tranche euro bond issue anyway. Focused on the yields, it did not mind paying higher spreads. Bankers said this was typical of the continuing wave of Reverse Yankee issuers.

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