Hot demand does not ensure easy bond sales

By David Rothnie
20 Jun 2019

The dollar corporate bond market was ripe for new issuance on Thursday after the US Federal Reserve opened the door to a rate cut soon. But investors eager to buy were frustrated by a week of light issuance from infrequent issuers, which in some cases had to pay up for access.

There was some cheer on Thursday when investors were offered a seven and 10 year issue from Healthcare Property Investors, returning after a four year absence.

The real estate investment trust had been upgraded earlier this year after repositioning its portfolio.

After the Fed kept ...

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