WP Carey mandates for euro trade as rates flash arb signs

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By Mike Turner
18 Feb 2021

WP Carey, the US REIT, has mandated for a euro bond through its Dutch subsidiary, as Europe’s syndicate bankers say that there are signs in the rates market that Reverse Yankees could become a popular choice again.

WP Carey, rated Baa2/BBB, has hired Barclays, Bank of America and Wells Fargo to arrange calls for a nine year benchmark sized trade. 

The deal comes amid shifts in the US rates market that could encourage more companies there to come to euros.

The 10 years US Treasury yield has ...

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