Despite price sensitivity, Coca-Cola European Partners gets negative NIP

Coca-Cola 230x150
By Alex Radford
10 Apr 2019

Corporate bond investors in Europe are showing a bit more willingness this week to say no to ultra-tight pricing, but not in sufficient numbers to prevent issuers getting what they want.

The order books for deals for Glencore, Telecom Italia and Coca-Cola European Partners all shrank in response to the final terms on Tuesday. 

But it hardly mattered. One of the leads on Telecom Italia's €1bn six year bond said its 2.875% yield had incorporated a new issue premium of ...

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