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Concessions climb as Middle East war rocks sentiment and Amazon redefines clearing levels
◆ Deutsche Post delivers €1.25bn over two tranches ◆ Some premium needed for defensive deal ◆ Deutsche Börse gets Monday's largest book
◆ Deal only the second ever Kangaroo hybrid ◆ Concession offered on all three tranches ◆ Verizon increasingly looking abroad for hybrid funding
◆ Corporate bond market fizzes with multi-tranche, multi-currency deals ◆ Marketing helps spur strong outcome ◆ Proceeds to fund coffee subsidiary spin-off
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Conservative tenors likely to be in demand when issuance resumes
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Market participants still hope to clear backlog before April
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◆ Longer tranches earmarked for Hinkley Point C financing ◆ Books close at just under €11bn ◆ Single digit concessions offered
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◆ Deal is the fourth EuGB labelled hybrid ◆ Issuer punches through fair value... ◆ ...and gets its tightest senior/sub spread
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Abbott Laboratories plundered $20bn as it led a trio of drug companies which printed jumbo bonds as a deluge of supply in the dollar market ensured a red-hot end to the month.
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◆ French supermarket chain extends curve to 2035 ◆ Deal lands through fair value ◆ SLB volumes slide despite 'flexibility'