Eager investors shrug off macro fears, gulp Acea, FCA, Northern

Northern Powergrid Northern Electric from Alamy 230x150
By Jon Hay
16 May 2019

Thursday’s corporate bond new issue action in Europe confirmed the picture presented on Wednesday: that investors were determined not to let macroeconomic issues bother them, and were piling into new issues. The day was less blemished than the previous one had been by volatility, enabling issuers to get some very tight spreads.

Vesteda launched its debut green bond at what was seen as 5bp through its curve, Northern Powergrid brought a £150m 30 year bond, Acea, the Italian utility, rased €500m and its compatriot FCA Bank €800m.

“We are very happy with the reception to the series of deals we’ve ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial