Blue chips thrive as EDF takes €2bn, Daimler goes to 10yrs

06 Sep 2012

No less than four impeccable northern European blue chip borrowers sold bonds on Tuesday, as investors piled cash into corporate paper amid ultra-low yields.

Electricité de France appeared eager to pounce on the low long term rates with a 10.5 year bond that grew to €2bn.

BNP Paribas, Crédit Agricole and Société Générale were the active bookrunners, with another five banks as passives. When a 2.75% coupon is available for that maturity, it ...

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