Publicis, BMW come tight despite deal spate
Investors proved their appetite for corporate bonds this week by gobbling €5bn of them on a single day, as Publicis Groupe and BMW issued jumbo deals on a second consecutive day of heavy issuance in Europe.
Publicis Group, the French advertising and PR agency, borrowed €2.25bn on Wednesday to finance an acquisition and BMW €1.75bn, and there were two smaller deals.“We are facing a concentration of these deals all in the same day,” a banker said. “And it’s not good to have a lot ...
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