You don’t need to be a genius to understand why there was an eye-catching flurry of euro-denominated bonds issued by non-European borrowers in the first quarter of this year. A powerful combination of a favourable cross-currency basis and super low yields in Europe have underpinned rising issuance. So too has the weakening euro. This has alerted non-European corporates to the pitfalls of leaving their foreign exchange exposure unhedged. It has also opened up appealing opportunities to them in the M&A market, with European assets looking cheap in dollar terms.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
