OMV hits record size as corporate demand stays strong

Oil pipeline 230x150
By Nigel Owen
07 Dec 2017

Austrian oil and gas company OMV discovered on Thursday that investors are far from finished with the investment grade corporate bond market in 2017. The strength of demand for its new nine year deal resulted in the company printing its largest ever bond.

Lead managers Commerzbank, Crédit Agricole, Mizuho, Raiffeisen Bank and UniCredit announced the deal with an expected size of €750m and initial price thoughts of 60bp-65bp over mid-swaps.

A syndicate manager away from the deal thought this was a wide starting spread. “I can ...

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