AdP takes off amid better sentiment

While Vivendi drew attention on Monday with its E1.75bn dual tranche bond, another well known French company — but with a much smaller borrowing requirement — also took the opportunity to price a deal. Aéroports de Paris, rated A+/A+ (both stable), issued only twice in 2010 and once in each of the previous two years, and half of those deals were in Swiss francs. The French state owns 52% of the company directly and 8% indirectly.