Telenor and Symrise brave ‘tricky’ market as sentiment weakens

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By Alex Radford
23 May 2019

A weakened corporate bond market on Thursday did not dissuade Telenor, the Norwegian telecoms company, from issuing a €2.5bn triple tranche deal. Competing for investors' attention was unrated Symrise, the German flavours and fragrances group, which managed to slash its pricing by 25bp-30bp without losing investors.

"Thursday has been particularly volatile," a UK investor said. "Yields have dropped quite sharply and global equity markets have had a bit of a tumble. Whether that causes a reduction in issuance we will see. I don't think it's affecting the investment grade market. It's surprising, but I ...

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