Orange hybrid flies on last day before ECB

By Alex Radford
11 Sep 2019

In the nervous last day before the European Central Bank's much-hyped monetary policy announcement on Thursday, only two corporate bond issuers brought deals. Both Orange, the French telecoms group, and Worldline, the French payments group carved out of Atos.

“I think investors have become a bit more nervous towards tomorrow's ECB meeting,” said a banker, adding that they might also be getting more sensitive about pricing. “It has been very busy, and yes, investors have a lot of cash, and we are in a new rate environment. ...

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