Riskier corporates see plenty of demand in yield hunters’ market

By Mike Turner
10 Sep 2020

Issuance in Europe’s high grade corporate market trended towards high beta names this week, with a spate of deals from riskier names, including the first outing for German fallen angel ZF Freidrichshafen since its downgrade.

Elsewhere, Bevco, an investment holding company (holdco) owned by the Santo Domingo family, French transport infrastructure company Holding d’Infrastructures de Transport and Irish safety conglomerate Johnson Controls drummed up €12.4bn of demand between them on Wednesday.

ZF, rated Ba1/BB+ since April 3, opened books on a dual tranche benchmark ...

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