Sunshine in autumn as even late Nov yields bumper corporate crop
Companies surprised the European bond market this week by issuing nearly €8bn of bonds that sailed through the market, obtaining big orderbooks and requiring minimal price concessions. Bankers had thought the market was starting to look worn down for the year, and were not expecting as much supply. When it did come, they thought some of the deals would struggle.
They may be crying wolf again, but this week, bankers predicted that heavy issuance was now over. “There are probably seven days of issuance left for the remainder of this year, and not much of a pipeline that we can see,” said a syndicate banker in London.Monday ...
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