Westlake’s euro debut twice covered in empty market

By Alex Radford
10 Jul 2019

Westlake Chemical, the Houston-based petrochemicals and plastics company, issued its first euro bond in a deserted investment grade corporate market on Wednesday. With other issuers absent because of earnings closed periods, Westlake's €700m 10 year achieved a decent book and spread tightening that was decent, if not large by recent standards.

“The market is holding up absolutely fine,” said a banker away from the deal. “This tail-off in supply is kind of natural, both given the fact we are approaching the holiday seasons, and that it has been an extremely busy first half of the year.”

She added: “it wouldn’t ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.