Metro €500m bond works with a third the book of Airbus’s

By Jon Hay
21 Oct 2014

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 ...

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