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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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For yield-hungry bond buyers, Central American sovereigns El Salvador and Costa Rica have proved irresistible in recent days. But as political infighting in both countries hampers fiscal consolidation efforts, fiscal fundamentals could cause creditors concern for years to come. -
ABS spreads are moving towards pre-pandemic levels as investors grow optimistic over recovering unemployment numbers and the reopening of New York City and other major economic centers.
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The UK government’s steps to reopen its economy are proving a boon for Whitbread, the parent of Premier Inn and Beefeater Restaurants, which is set to complete a £1bn rights issue on Wednesday.
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Spain and SNCF SA announced new euro benchmarks with 20 year maturities on Monday, following the European Investment Bank’s record-breaking effort in the tenor last Friday.
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Hella, the German car parts maker, has signed a €500m syndicated revolving credit facility, as lenders highlight the sector as one of the most likely to feel long-term economic damage from the coronavirus pandemic.
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Greece and Ireland are set to test the primary bond market this week, returning to one buoyed by a fresh injection of confidence after the European Central Bank expanded its Pndemic Emergency Purchase Programme (Pepp) last week.
