Investors queue up to get into Carmila’s opportunistic outing with others expected

Adobestock_shopping_mall_facemasks_575x375_Nov20
By Mike Turner
23 Nov 2020

Carmila, the French shopping centre owner, rode the positive sentiment generated by news of another promising Covid-19 vaccine on Monday to launch a sub-benchmark bond. Bankers expect such opportunistic, small scale deals to dominate corporate issuance for the rest of the year.

Carmila, rated BBB by S&P, opened books on a €300m no-grow May 2027 trade with price talk of 250bp over mid-swaps.

It had proposed bringing a 6.5 or 9.5 year during marketing last week when it mandated BNP Paribas, Crédit Agricole, Natixis and Société Générale to arrange investor calls. ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial

Want to learn more? View subscription options