Fiat picks good week to return for €600m

10 Jul 2012

Fiat, the Italian car company, launched its third bond of the year today, taking advantage of a buoyant tone in financial markets as some progress appears to be being made on resolving the eurozone crisis and investors continue to flock to corporate credit.

Fiat is now rated Ba3/BB-/BB, and marketed its bond on a yield basis as high yield borrowers do, but is still bought by many investment grade investors.

Despite European stocks opening down after yesterday’s moderate rises, Bank of America Merrill Lynch, BNP Paribas, Citigroup, JP Morgan, Morgan Stanley and ...

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