Multiple multi-tranches as BMW, AbbVie, Abertis jostle

By Alex Radford
17 Sep 2019

No less than three dual tranche corporate bond deals hit the market on Tuesday, as BMW, Abertis, and AbbVie jostled for the attention of investors with €2bn, €1.5bn and €1.4bn deals.

Bankers put the willingness of investors to absorb such heavy issuance down to the European Central Bank’s dovish tone last week.

“The market reaction was, overall, very positive,” said a banker away from the deals. “I think we have just settled into a phase where it’s a very strong ...

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