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◆ Telecoms firm takes €1bn across two legs ◆ No to negative premiums offered ◆ Real money sticks as fast money falls out
◆ Real estate firm takes £400m on second outing ◆ Single digit concession needed ◆ Elevated sterling yields putting off potential issuers
◆ Spreads on all three legs tightened by 30bp ◆ Short end leads demand ◆ Deal follows BMW's outing in January
Data
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Predictions range from zero premium for the highest grade credits to 75bp for high beta hybrids -
Investors begin engaging again, with credit spreads at wider levels
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Outlooks have been challenged by a white swan event
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Head European credit strategist says ECB unlikely to be blown off course by Omicron
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The recent volatility in the primary bond market has proved difficult for issuers, driving up new issue concessions. But although they remain high, there is evidence that they have stabilised
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Chemical company pursues deleveraging as it grapples with structural changes in its end markets
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