Mondi alone as European corporate bond enthusiasm cools

Mondi tree harvesting forestry from co media gallery 575x375
By Jon Hay
27 Mar 2020

The euphoria that infused Europe’s corporate bond market from Tuesday to Thursday has cooled somewhat, although investors are still open for business. Bankers had said on Thursday that Friday would bring an interesting crop of deals, but there is only one, for paper company Mondi, rated Baa1/BBB+.

Bookrunners Bank of America, Commerzbank, Deutsche Bank and SEB put the benchmark eight year deal on screens at about 8.30am London time, and it was not until 12.20pm that the first book update came, showing demand of over €2.1bn. Books would go subject at 12.45, they said.

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