Lagardère flies amid rally and enthusiasm for unrated bonds
Lagardère, the French media group, became the latest unrated borrower to sell a bond today, after a recent spate of such deals, and achieved a very strong book of €4.5bn from nearly 500 investors.
The company prepared thoroughly for its €500m no-grow five year deal. Crédit Agricole and HSBC, the global coordinators, together with bookrunners BNP Paribas, Commerzbank, ING, Mizuho, Natixis and Société Générale, held a conference call last Friday and then two days of meetings with investors in Paris, Germany, London
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