Mark Dodd, deputy head of syndicate at RBS in London, describes June's five-tranche EUR5 billion transaction for Italian utility Enel as a "defining moment" in the evolution of the corporate bond market. "If the deal had gone badly it would have set a negative tone for the entire credit market, and the transactions that followed would not have been done at anything like the spreads they achieved," he says.

It is easy to see why. The Enel transaction, led by Credit Suisse, Deutsche Bank, Goldm

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: