Prospect for new IG bonds bleak, despite Daimler splurge
Investors hoping for new investment grade corporate bonds this week may be disappointed, as widening spreads and falling equities make the market less tempting for issuers.
However, demand is still out there for new notes. Last Thursday, investors poured around €5bn of orders into the most recent euro IG issue, a €3bn four tranche bond from car company Daimler.“Right now it’s looking quite bleak,” said a corporate bond syndicate banker. “I suspect no one ...
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