IG corporate market sees volumes ebb and flow as earnings drip out

By Mike Turner
29 Apr 2021

Issuers piled into Europe’s high grade corporate market on Wednesday but the deal flow had slowed to a dribble by Thursday with many issuers still on earnings blackouts. Investors showed less enthusiasm for the deals that came at the tightest spreads.

UK housing association PA Housing made its debut in the sustainability-linked bond market on Thursday.

The A3/A rated company got chunky demand for its May 2036 trade, allowing it to nudge the deal size up during bookbuilding.

The borrower opened books on the May 2036 trade at Gilts plus 110bp. ...

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