Corp bonds tighten sharply as party rages

By Alex Radford
28 Aug 2019

The hail of issuance in European corporate bonds continued at full pelt on Wednesday as Orange and National Grid joined the fray with multi-tranche deals. Investors and issuers seem equally eager to do business.

Among seven issuers in the market at once, Orange, the French telecoms company, issued a €2.5bn three tranche bond that was just under five times subscribed, while UK electricity and gas networks group National Grid sold a €1.5bn two part hybrid bond that was four times covered. 

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