German champion Adidas’s unrated €1bn slips in soggy market
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Corporate Bonds

German champion Adidas’s unrated €1bn slips in soggy market

Adidas cartoon 1374 cropped for new website

Adidas, the German sportswear maker, issued its first bond for five years on Wednesday. The company’s rarity, high perceived credit quality of around the single-A level and very strong brand name should have made this a triumphant deal, but in the treacherous conditions of this week it was a mess.

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