Demand for corporate bonds asks questions of summer shutdown
Deep into July, the European corporate bond market is in full voice. €23bn of orders for €7bn of bonds from seven borrowers printing everything from two year FRNS to 20 year bonds was the tale of the tapes this week. But still many market participants harp on about a summer shutdown as inevitable, despite all evidence to the contrary.
Final order books were €11.7bn, including €3.7bn for the 20 year tranche. Quite often a multi-tranche deal has a weak tranche, ...
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