Higher capex points to boom in IG corporate bond supply

By Mike Turner
29 Apr 2021

Europe’s high grade corporate bond market is set for a glut of supply as companies appear to be loosening the capex purse strings once more. The only debate is about when it will come. With cash piles at near record levels, there is little agreement about when firms will need to fund spending with fresh debt, writes Mike Turner.

The coronavirus pandemic saw companies slash inessential spending, with capex programmes and M&A some of the first to be frozen. For the worst affected industries, such as aviation, keeping spending down is still a major worry. Finnair, for example, this week increased its cost saving target for the ...

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