McDonald’s serves skinny premiums

McDonalds burger
By Nigel Owen
23 Nov 2017

American fast food chain operator McDonald’s on Tuesday sold the sixth reverse Yankee deal in a month, issuing a long six year tranche and a 12 year tranche to raise €1.2bn.

“This was clearly a nice trade,” said a syndicate manager on the deal. “The issuer was always aiming for around €1.2bn so it was just a case of how low a new issue concession we could get.”

The tenors kept the deal away from the eight year ...

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