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High yields and tight senior/sub spread fuel enthusiasm for issuance among investors and issuers
◆ German utilities firm debuts hybrid bonds weeks after first senior deal ◆ Books shrink as issuer pushes tight ◆ Trade lands inside peers
◆ Swisscom pushes senior/sub spread close to record tights ◆ Tennet Germany lines up debut hybrid ◆ Hybrid volumes run ahead of 2025
◆ Books sticky throughout execution ◆ Debut deal lands tight ◆ Commitment to single-A rating drives first time trade
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Telecoms company sees ample demand for first subordinated notes of the autumn
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Firms must choose: pay up or risk angering investors
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Power group refinances sterling and dollar notes coming up for call
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IG paves way for hybrid issuers who could in turn encourage HY
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The unrated issuer found pockets of demand in the German-speaking world and beyond
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French corporate makes early dash for deeply subordinated cash