Issuers Pile Into Europe’s Primary Before Key Events
- Vodafone, NatWest, AstraZeneca are among those active Monday
- Amount of issuance is at odds with the usual summer slowdown
Strong inflows into the primary have supported the market this year.
Photographer: Lisa Maree Williams/BloombergThis article is for subscribers only.
Debt sales in Europe’s primary market were at a brisk pace on Monday as companies sought to front-load their financings ahead of a slew of major central bank policy decisions, earnings reports and US data releases.
Vodafone Group Plc, NatWest Group Plc, AstraZeneca Plc, and Edenred SE priced €3.25 billion ($ 3.52 billion) in the single currency while South West Water Ltd. raised £400 million ($513 million) of 17-year money. This easily exceed the €2.59 billion raised in the whole of last week.