E.On and Engie sooth jitters over wider spreads
E.On and Engie pushed ahead with tightly priced deals on Thursday, easing concerns from earlier in the week that ZF Freidrichshafen’s widely priced bonds would create a new level for issuance.
German utility E.On, rated Baa2/BBB, has launched a €1.5bn transaction split evenly between three and seven year tranches, while French utility Engie, rated A3/A-/A, has launched a €900m 11 year and €600m 22 year.
“Reception for both deals has been strong,” said a banker away from the trades. “What’s
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