BMW and Digital Realty go long term

BMW car from corp media gallery 8Jan20 230x150
By Mike Turner
08 Jan 2020

European corporate bond issuers started pushing out their debt maturities on Wednesday, as BMW Finance and Digital Realty issued 10 year and longer paper, even though some investors are keen to rein in duration in their portfolios.

Car finance lender BMW Finance, rated A1/A+, and US real estate investment trust Digital Realty, rated Baa2/BBB/BBB, both brought triple tranche euro benchmarks.

BMW started marketing an April 2023 (3.25 year) bond at 50bp area over mid-swaps, a January 2027 (seven year) at 70bp and a January ...

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