Pre-Thanksgiving dash as US bond bid cools
The skinny pricing concessions and big order books that characterised this week’s US corporate bond issuance will not be sustainable as the year wanes, bankers have warned.
Twenty borrowers took home almost $18bn as investors poured billions into deals from rare and new issuers such as Diamondback Energy, which attracted an order book that peaked at $8.3bn for a $3bn trade, while CyrusOne sucked in $5.4bn for its debut.Meanwhile cosmetics company Estée Lauder was ...
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