Investors unfazed by ‘pure Italy risk’ in peripheral Europe corporate rally

03 Feb 2012

The recovery of Europe’s credit appetite forged ahead this week as several southern European borrowers found rampant demand for their bond issues and new issue premiums for many kinds of borrower tightened.

On Thursday the bull run passed an important milestone, with a highly successful €1bn seven year bond by Atlantia, the Italian toll road company. Unlike most peripheral issuers in recent months, Atlantia’s revenues come almost entirely from its home country.

"It’s the first deal offering pure Italy risk," ...

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