Coca-Cola Hellenic adds fizz to its debt management
KPN cleans up with complex deal
SPECULATIVE TRADERS AS well as some institutional investors are now buying the short-dated debt of almost any European company on the bet that they might be able to cash in on the next liability management trade to come to market.
It’s the latest sign that liability management, for some time now a regular feature of US debt capital markets, has found a home in Europe.
A lot of time and energy is being devoted on the buy and sell sides to predicting which company will be next to offer investors a juicy premium to buy back its bonds.
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