Hera has high grade corporate market to itself as bankers ponder December

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By Mike Turner
26 Nov 2020

Hera, the Italian utility, had the market to itself on Thursday, as corporate bond supply fell. But syndicate desks were split over whether this week’s roaring demand could encourage other opportunistic issuers to the market well into December.

Hera, rated Baa2/BBB, opened books on a €500m no-grow December 2030 trade at 90bp over mid-swaps. 

The corporate market has been one of Europe’s busiest this week in terms of deals done — on Wednesday alone seven trades were priced.

But investors were still looking to pick up paper, with ...

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