Investors respond well to Ahold’s return to bond market after over a decade away

euros FA 230
By Nigel Owen
14 Sep 2017

Ahold Delhaize, the Dutch supermarket company, was the only IG corporate issuer to price a deal on Tuesday. But unlike the five triple-B rated issuers on Monday, the food retailer paid a single digit new issue premium.

A syndicate manager on the deal said Ahold’s French competitors, Auchan and Carrefour, were the main comparables, although some  investors also looked at recent deals from Carslberg and Philips.

Lead managers Bank of America Merrill Lynch, Deutsche, Goldman Sachs and JP Morgan had roadshowed the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial