Primary scarcity covers cracks in euro IG corp market

By Mike Turner
07 Oct 2020

Europe’s high grade corporate issuers secured another day of bulging order books on Wednesday, as concerns about scant primary supply to come washed away investor jitters about a collapsed $2.2tr fiscal stimulus deal in the US.

UK business services company Rentokil, French chemicals company Arkema, Danish pharmaceutical firm H Lundbeck, Spanish real estate company Inmobilaria Colonial and French phone company Orange were all on screens on Wednesday. 

Most deals saw chunky books and tight pricing, with Rentokil landing 5bp inside fair value and Arkema garnering ...

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