Big books and eye-popping spreads as triple-B companies pile in

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By Mike Turner
25 Mar 2020

Riskier high grade corporate names saw more than €45bn of combined demand for new bonds on Wednesday. Danaher, Carrefour, Bertelsmann, Philips and Heineken were all in the market following a batch of deals from higher rated names a day earlier encourages borrowers to pile in.

Triple-B names dominated primary market activity on Wednesday. Some, such as Baa1/BBB+ rated brewing company Heineken operate in areas that have been hit hard by the coronavirus as governments across the world have ordered bars and clubs to shut.

But investors are eager for new paper, with the dual ...

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