RCI cuts lone figure in barren corporate market

A severe lack of high grade borrowers needing and willing to issue led to a near-barren week for primary deals in Europe’s corporate bond market, as bankers predicted this hiatus was now set to last until September. Only RCI Banque, Renault’s funding arm, took advantage of a lack of competing supply to increase its Eu500m 4% 2013 issue printed in mid-June.