SCA cleans up as bid defies Dutch worries

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By Michael Turner
15 Mar 2017

The riotous strength of the corporate bond market was on full display on Wednesday, with even the distraction of the Dutch elections unable to stop spreads from tightening and order books from bulging.

Stockholm headquartered hygiene product maker SCA Hygiene brought the biggest test of the market with a €2bn transaction split over four maturities.

But with combined books above €7bn at launch, skewed towards the two longest tranches, and all tranches tightening spreads from initial price thoughts ...

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