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Corporate BondsHigh grade and crossover bonds

Sodexo shrugs off US PP furore and fall in revenue with €6.2bn of orders

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Sodexo, the French food service and facilities management firm, saw bumper demand for its €1bn no-grow dual-tranche bond issue on Wednesday, a day after it reported a 30% drop in revenue, and weeks after it shocked the US private placement (PP) market by saying it would repay around $1.6bn of debt early as it could do better in other financing markets.

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