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New record low spread gap between senior and hybrid bonds
The US tech giant kickstarted what could be a deluge of debt issuance from the largest US tech firms
◆ Junior note lands tight to Class As ◆ No concession needed ◆ Lack of sterling supply allows for tight pricing
◆ Peak book the largest for an IG corporate in sterling since early November ◆ Issuer takes size at a tight spread ◆ Wide range of fair values spotted
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Former National Express joins stream of new bond issuers
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Investors turn up for triple-B rated debt from out of favour sector
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Issuer lands mid-teens new issue concession in short end outing
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Danaher spin-off water company plants its flag in the euro market
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Sterling corporate bond issuance is on a roll
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Solid market conditions help corporate borrowers print close to curves