Making a splash with euros

The vogue for euro-linked paper offers German issuers a chance to detach themselves from the fortunes of the Deutschmark bond market. Some big issuers believe the domestic bond market will continue to have plenty to offer; others are betting that the new European currency, the euro, will offer the liquidity they seek

A SUPPLEMENT TO EUROMONEY – MARCH 1996

After the European Investment Bank (EIB) issued what they claimed was the first ever bond denominated in euros, investment bankers knew exactly where to look for other borrowers keen to follow suit. In the two or three days after his bank jointly led the EIB’s euro 1-billion issue on January 31, Cyrus Ardalan, global head of bonds at Paribas, spoke to almost all the major issuers in Germany. Most are seriously considering an issue in euros.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access