Leveraged loans not quelled by Brexit as bonds fall silent
Stillness reigns in the European corporate bond market, as the UK referendum on its EU membership comes closer. However, the last new issue before Thursday’s poll came as late as Monday, when Christian Dior seized on an optimistic mood in markets to print its well-flagged €350m five year bond.
With iTraxx credit default swap indices and cash bond spreads tightening after a weekend opinion poll boost for the Remain campaign, the unrated French fashion house found a warm welcome from investors.It won a €2.1bn order book, as investor flocked to this scarce issuer with huge brand ...
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