US market blazes as Europe waits for BAT to spark up
European corporate bond markets remain focused on British American Tobacco’s multi-tranche deal expected later this week. However, nine different investment grade issuers printed new issues in the US on Monday, making it the most varied day of 2017 so far.
BAT was set to wrap up its telephonic roadshow on Tuesday and could issue in dollars, euros or sterling after that. Rumours of a deal size of around $25bn-equivalent may have caused other potential issuers to step back from issuing in Europe just yet.
US issuers, however,
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