HY demand at CMA’s sails for new benchmark bond after upgrade

CMA CGM
By Victor Jimenez
17 Oct 2017

CMA CGM, the French container liner, priced its first bond issue on Tuesday after improving on its triple-C ratings. Investor demand was enough for the issuer to double the size of the deal.

“The high yield market has the ability to digest complex stories and work around types of risk that would have difficulty attracting attention somewhere else,” said a high yield banker on CMA’s new seven year non-call three senior unsecured bond.

CMA began roadshowing for €300m on Monday, ...

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