Going, going, gone? The new issue premium dwindles

April 16, 2008 12:00 AM

The new issue concession priced into bonds has been steadily diminishing for three or four weeks as the post-Bear Stearns bailout mood improves, but this week Dell priced a $1.5bn five, 10 and 30 year deal which seemed to have no pick-up over credit default swaps at all. Yet it still attracted healthy orders.

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