Tough day no bar to Aéroports de Paris's return

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By Mike Turner
25 Jun 2020

Aéroports de Paris, rated A by S&P, cut a lonely figure in Europe’s corporate bond market on Thursday, braving difficult conditions to launch a dual tranche deal more than 100bp inside where it had printed debt at the start of the crisis.

AdP opened books on Thursday for an 8.5 year (January 2029) note at 170bp over mid-swaps and an 11.5 year (January 2032) at 195bp.

BNP Paribas, Crédit Agricole, Deutsche Bank, Goldman Sachs, HSBC and Société Générale  were bookrunners.

“It’s been all high beta names in the last few days,” ...

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