Unibail, Heineken show ECB may turn mart ‘crazy’ but not forever

Fireworks
By Victor Jimenez
21 Apr 2016

Books were several times oversubscribed and new issue premiums often dropped to zero this week, ahead of an ECB move that was widely expected — but everybody is aware that market backlashes do happen.

“This week was madness,” said a director of DCM in London. “We had orders for more than three times the offerings, NIPs coming to a minimal expression, long maturity tranches, companies that kept on hold their issuing plans jumping in the market…”

Before the European ...

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