Corporates kickstart 2020 with BBB bonanza

Fresenius, from corp website
By Mike Turner
07 Jan 2020

Triple-B rated companies piled into the bond market on Tuesday, as RCI Banque, Fresenius and General Mills raised €2.1bn between them.

The longest trade of the day came from German medical care company Fresenius.

The Baa3/BBB/BBB rated name hit screens with an eight year euro benchmark at initial price thoughts of mid-swaps plus 105bp area via Deutsche Bank and UniCredit.

This was then refined to a €750m deal at plus 83bp ...

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