FedEx delivers its second euro note

By Alex Radford
22 Jul 2019

FedEx has returned to the euro market for the second time in 2019. Having issued a €640m 3.3 year back in January, the Baa2/BBB US logistics company printed a €1bn six and 12-year dual-tranche on Monday. After a drop in reverse Yankee issuance last year, the euro market has proven attractive to US issuers this year, with a steady stream of deals through the first half of 2019.

“It’s certainly something that the US issuers are taking very seriously at the moment,” one banker away from the deal said. “The euro market is particularly aggressive right now, and longer tenors are more widely available. Rather than investors just looking at the euro market in ...

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