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GC Asia
Europe's corp investors still find value in razor-thin spreads
Europe’s high grade bond investors showed they are still willing to swallow ultra-thin spreads on Monday, when Dutch leasing company LeasePlan priced a green bond well inside fair value and Deutsche Boerse won ample demand for a thinly priced €1bn deal.
LeasePlan, rated Baa1/BBB-/BBB+, opened books on a green February 2026 trade at 95bp over mid-swaps.
This was around 18bp back from fair value, based on interpolating the curve from where leads spotted LeasePlan’s existing €500m 1.375% March 2024 and €500m 3.5% April 2025 green bonds.
ING was green structuring agent. ...Already a subscriber? Login
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