ASF sees plenty of traffic for new 12 year

Queue lorries traffic jam border trade from Adobe 230x150
By Nigel Owen
15 Feb 2019

French toll road operator Autoroutes du Sud de la France found plenty of investors willing to buy the issuer’s first corporate bond sale of 2019. The demand allowed the company to tighten the spread it was offering by 22bp through the marketing process and price the deal in line with its existing curve.

ASF sold two bond deals in 2018: a €1bn 12 year transaction in January and €700m of 10 year notes in June. Its 2019 debut was launched as a benchmark 12 year trade.

Leads BNP Paribas, Commerzbank, Mizuho, Société Générale and ...

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