Yankees romp as Panasonic back after 20 yrs

By David Rothnie
11 Jul 2019

ArcelorMittal jumped into the dollar bond market on Thursday to take advantage of strong funding conditions, after Jerome Powell, chairman of the US Federal Reserve, stoked hopes of a rate cut in July.

The Luxembpurg-based steelmaker, rated Baa3/BBB-, chose Bank of America Merrill Lynch, Citigroup, JP Morgan, Goldman Sachs and RBC Capital Markets to sell a $750m five year tranche at 175bp over Treasuries and a $500m 10 year at 225bp. 

The rally came after market sentiment began the week on ...

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