Plenty of room for RTE, Iberdrola, Wendel and Kering in buoyant market

Iberdrola Aldeavila dam for web
By Jon Hay
25 Sep 2014

Tuesday had been a slippery day in the European corporate bond market, as a fall in equities caused two new issues to find underwhelming demand – a knock-on effect that has not happened for a long time. But by Thursday that was all forgotten. Four deals were launched, three of them triple-B rated and three of them 10 years, and all went well.

Réseau de Transport d’Electricité, the French power grid rated A+ (stable), launched €750m of 10 and 20 year bonds, luxury goods group Kering a €500m seven year, investment company Wendel a €300m 10 year and Iberdrola €500m of 10 years.

“The market is feeling a bit heavier,” said ...

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