eBay Classifieds underlines strength of final market window

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By Owen Sanderson
22 Oct 2020

The €2.6bn financing for Adevinta’s purchase of eBay Classifieds looks set to be a blowout success, with sharp tightening across all tranches underlining the bid for quality credits enduring limited pandemic impact. The deal’s double-B rating helps attract rating-sensitive investors who have seen their portfolios pummelled this year by Covid-related downgrades.

Adevinta, offering loans in dollars and euros and bonds in five and seven year format, is the biggest deal in a busy market this week, as issuers race to complete financing projects before the US election threatens to close November’s market window.

“The outcome I think the market ...

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