Procter & Gamble scores euro triumph as investors put faith in credit stability

21 Sep 2000

Fixed income investors demonstrated their faith in the management of Procter&Gamble this week when heavy demand for the corporate's debut euro transaction enabled bookrunners Deutsche Bank and Goldman Sachs to increase the issue from Eu1bn to Eu1.5bn.

The US consumer goods company has suffered at the hands of equity investors this year, its market capitalisation falling from $165bn in January to $83bn at the time roadshows for the bond issue started at the beginning of last week.

A series of profits ...

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