Metro €500m bond works with a third the book of Airbus’s
Metro, the German supermarket group, strengthened the narrative that Europe’s corporate bond new issue market is recovering, with a €500m seven year issue on Tuesday.
The deal was more conservative in format than Airbus’s €500m 15 year deal on Monday, but came from a higher risk credit. Metro is rated Baa3/BBB- (both stable), against Airbus’s A2/A/A- (all stable).
Playing it safe, though, both issuers made their deals €500m no-grows.While at many times ...