In the relatively quiet months of this summer, one nagging worry kept debt capital markets bankers from enjoying their vacations. Will investors be willing to buy the huge volume of bonds that Europe’s telecom companies plan to issue in the Final months of 2000?
The first big test of that appetite came with Telefónica’s $6 billion jumbo offering last month, a deal led by Goldman Sachs, JP Morgan and Morgan Stanley, followed two weeks later by a $4.38
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