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Offer came as markets recovered and volatility fell
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.
Eight banks provided loan facility to company
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Mexican real estate investment trust (Reit) Fibra Uno’s plans to return to bond markets were shaken on Tuesday when the issuer delayed pricing “as part of company protocol” when an earthquake hit the country. -
The UK may be loosening social restrictions as the rate of coronavirus infections abates, but the Bank of England and the government cannot let up the fight against the economic and market impact of the virus.
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The repeated presence of European issuers in the bond market of late is testament to the prudence with which they are building up capital for what could be tough times ahead.
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The Covid-19 crisis, and particularly the equity rally since the bottom of the sell-off in March, should cause deep reflection for active fund managers at risk of underperforming if they stick to their principles.
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Austria mandated banks on Tuesday to lead its second century bond, in what will be a litmus test for investor appetite in the ultra-long end of the curve since the outbreak of the Covid-19 crisis.
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Exxon Mobil Corp, the US oil major, launched €4.5bn of bonds on Tuesday to establish a euro curve for the first time. Parts of its dollar bonds came under selling pressure as investors looked to swap into the cheaper debt.
