Corporate issuers waiting to pounce on rare green days

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By Mike Turner
23 Mar 2020

Wild volatility has again put Europe's corporate bond primary market on hold, but syndicate bankers say the roaring demand for Friday's two transactions by Engie and Unilever shows that there is still a market for issuers willing to accept wider spreads and bigger new issue premiums and nimble enough to leap through an issuance window as soon as it opens.

Engie and Unilever printed €4.5bn of debt between bonds on Friday, jumping on a rare green day in the markets and issuing the first bonds in Europe's high grade corporate market for nine days.

The bonds are now trading below reoffer, as investment grade corporate bonds in general widened about ...

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