Long end is the strong end for BP and Deutsche Bahn

Short Term, Medium Term, Long Term Plan
By Mike Turner
01 Dec 2020

BP, the oil major, was joined at the long end of the bond market on Tuesday by railway company Deutsche Bahn, as issuers take advantage of low spreads to stretch out their debt maturities.

BP, rated Aa1/AA-, opened books on a 20 year euro bond in its first issue through its Dutch financing subsidiary, which it hopes will gain it eligibility for the European Central Bank's Corporate Sector Purchase Programme (CSPP). Meanwhile, Deutsche Bahn launched a 30 year deal.

Investors also had a ...

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