Companies skip into bond market as one day's stability is enough
Confectionery company Néstle, soft drink maker Coca-Cola European Partners and French pharmaceutical company Sanofi piled into Europe's bond market with new issues on Tuesday, suggesting that borrowers are increasingly eager and quick to react when the market shows any signs of stabilising.
The three deals come the day after US stockmarkets fell 2.9%, with similar falls in Europe and corporate credit widening by around 10bp. Markets weakened even though the US Federal Reserve had announced a new bond buying programme that it dubbed "unlimited".In previous crises it has often required ...
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