Preparation a cure for corporate bond constipation
After the glut of issuance comes the period of digestion and the European corporate bond market is certainly quieter this week. In a less liquid market, preparation is key, and borrowers must ensure that their investors are well primed before announcement. Yesterday (Tuesday), Dutch chemicals firm DSM exemplified this well prepared approach, thoroughly pre-marketing its Eu500m five year transaction. There are many other borrowers out on non-deal roadshows, including German pharmaceuticals firm Merck, and to find out all about the pipeline, read EuroWeek this Friday.
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