Investors guzzle flat Pepsi and McD nuggets

Pepsi cola pepsico sign in New York from Alamy 230x150
By Jon Hay
14 Mar 2019

PepsiCo took one of its rare sips at the euro bond market on Monday, and was rewarded with two bonds, seen as priced flat to and through its curve.

McDonald’s, which serves a similar kind of fare but is rated lower at Baa1/BBB+ (stable) to Pepsi’s A1/A+ (stable), chose the same day to serve up two euro tranches and a sterling, to a similar reception.

After the European corporate bond market was clouded by weak secondary trading ...

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