US corporates cram into high grade euro market

Adobestock_Mondelez International_575x375_March21
By Mike Turner
03 Mar 2021

Europe’s high grade corporate investors had their pick of US risk on Wednesday, with a trio of names raising €5.2bn of debt across seven tranches.

Food and drinks maker Mondelez International, power management company Eaton Corp and travel fare aggregation company Booking Holdings all priced deals.

Rising rates in the US Treasury market have made euro funding more attractive, according to multiple syndicate bankers. However, with the 10 year Treasury yielding 1.477% on Wednesday ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial