EDF hits hybrid market energised by ECB
Electricité de France attracted huge demand for a €500m hybrid capital bond issue on Tuesday, as the continued grinding tighter of corporate bond spreads meant subordinated bonds enjoyed solid demand from investors.
Demand for the no-grow perpetual non-call eight year trade hit more than €7.5bn, allowing the leads to move pricing in from initial price thoughts of 3.625%-3.75% to a final yield of 3.125%.
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