Abengoa prices HY green bond wide, driven by HY investors
Abengoa issued €500m-equivalent of five year green bonds on Wednesday, pricing them wider than expected, with a lead banker blaming a weak market.
The Spanish renewable energy and engineering firm issued a €265m tranche at the wide end of price talk of 5.25% to 5.5%. The $300m tranche was priced at 6.5%, 25bp wider than the wide end of price talk. Both tranches were issued at par.
“The market was weak,” ...