Bond market ready for more hybrids after Porr’s perpetual

construction px230
By Victor Jimenez
30 Jan 2017

Porr, the unrated Austrian construction company, on Monday priced the first European corporate hybrid bond this year at the tight end of guidance.

Market participants saw the subordinated bond as the latest piece of evidence of a European capital market in excellent health. Corporate euro bond issuance for January reached €26bn, according to Dealogic, four times that of January 2016.

“It’s very interesting, it could be a sign that there are certain ...

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