P&G and Yankees keep US market alight amid blackouts

By David Rothnie
22 Apr 2021

Corporate bond issues came at a healthy clip in the US market this week, despite earnings blackouts, as investors showed a preference for highly rated paper.

Procter & Gamble was an ideal name for this mood. The Aa3/AA- rated consumer goods group brought a tightly priced $2bn deal through Citigroup, Goldman Sachs and Morgan Stanley.

The $1bn five year paid just 20bp over Treasuries, the 10 year 42bp. Both were among the lowest ever ...

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