Investment grade primary market delivers mixed bag of deals

By Mike Turner
14 May 2020

Europe’s high grade corporate bond market offered investors an assortment of trades this week, with some defensive issuers managing to print inside fair value, while some of the more esoteric picks had to pay up.

Italy’s corporate market finally reopened with a trade from oil and gas major Eni.

The firm, rated Baa1/A-/A-, had around €9.1bn of combined demand for its May 2026 and May 2031 tranches, skewed slightly towards the shorter bond, which allowed the leads to cut the spread 45bp during book ...

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