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High yields and tight senior/sub spread fuel enthusiasm for issuance among investors and issuers
◆ Pair help market to end week on a high note ◆ GSK offers pick-up over peer AstraZeneca ◆ Glencore finds demand at eight years
◆ French borrower takes €1.15bn across two tranches ◆ Balance struck between size and price to keep investors onside ◆ Small concession offered
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◆ Attractive level found versus dollars ◆ Pricing not so dear compared to secondaries ◆ Reverse Yankees dominate credit flow
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◆ Double-B French telecoms brings IG-style execution ◆ Demand peaks over €2bn ◆ Pipeline looks thin as uncertainty over Middle East conflict looms
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Higher rates a stumbling block for issuers that could overshadow strong demand
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Deep, liquid US market offers issuers size, attractive cost and investor diversification
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France’s Bastille Day and US inflation data expected to subdue supply early in the week
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Foreign issuers tap market for price and diversification
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