Ferrovie dello Stato Italiane, Italy's state railway company, launched a €700m seven year green bond into an otherwise empty corporate bond market on Thursday. The Independence Day holiday in the US kept markets quiet this week, and eager investors may be frustrated next week too.
“It is still a case of everything seems to work," said a corporate bond banker away from the Ferrovie deal. "There’s plenty of cash in hand and oversubscription [on new deals] is strong."
However, she added, new issue premiums had risen since last week, even though “it seems like