Supply concerns see IG corporates brush off macro worries

By Mike Turner
08 Oct 2020

Europe’s high grade corporate market was red hot this week with bulging order books and negative concessions, as concerns about scant primary supply to come washed away investor jitters about a collapsed $2.2tr fiscal stimulus deal in the US.

French chemicals company Arkema was a standout with a €300m October 2026 green trade more than 10 times oversubscribed, while Italian oil and gas firm Eni got its biggest ever book with its debut hybrid. 

Big books gave leads confidence to push hard on spreads, with UK business services ...

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