Criteria debuts at Eu1bn as holdcos impress
Corporate bond investors embraced fresh issuance from holding companies this week as Criteria Caixacorp, an investment company spun out of Spain’s La Caixa, made its debut and Sweden’s Investor returned to the euro market for the first time in more than three years.
The deals reaped big oversubscriptions and Criteria was able to price a chunky Eu1bn five year bond, despite being presented as one of the more complex borrowers to issue recently.Bankers distanced the two high-quality issues from recent deals from holdcos such as Germanys Haniel, rated Ba1/BBB-, but added ...
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