Carrefour takes lion's share, SBB gets by

By Alex Radford
07 May 2019

After a couple of slow weeks for corporate bond issuance in Europe, the pace quickened somewhat on Tuesday, with two €500m no-grow issues. One was from a familiar name - Carrefour, the French supermarket chain - the other from a new one, Samhällsbyggnadsbolaget i Norden, a Swedish residential property company founded only in 2016.

Carrefour has emerged from some of its difficulties to be the "most stable" of the big French retailers, a banker said, while Auchan, which a few years ago looked stronger, has migrated down the credit scale.

On Tuesday Carrefour, rated Baa1 (negative)/BBB/BBB+, set out to raise €500m of eight ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial