Hybrid names continue to flood Europe’s high grade bond market

Merck & Co research for new website
By Mike Turner
03 Sep 2020

Europe’s high grade corporate market continued to offer plenty of demand for riskier structures this week, with multiple hybrids again taking up screen space.

US pharmaceutical company Merck, Italian electricity company Enel and a debut in the hybrid structure from Dutch dairy cooperative FrieslandCampina jostled for attention this week, as did French nuclear power company Orano, rated BB+ but being sold to high yield and investment grade accounts. 

Merck launched a chunky €1bn ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial