Corporates leap into turbocharged 2009-style IG market
High grade companies poured into the bond market this week as participants weigh up whether this is a redux of 2009’s record year or if the unprecedented central bank spending and high bank liquidity mean that this is a unique market where borrowers raise cash even if they do not really need it.
More than €30bn was raised in the European corporate bond market in the first four days of this week, leaving syndicate bankers, many of whom are working from home, exhausted by late on Thursday.“It’s been a crazy, crazy week,” said a syndicate official at a European bank. “Everything ...
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