On the road again

Issuers are finally waking up to the fact that maintaining healthy bondholder relations can reap rewards in the long term. To this end, an increasing number of potential issuers are hitting the road with no specific deal on the table, as Laurence Neville reports

There are some statements in the capital markets that are just plain true. Try this one: past performance is not an indicator of future performance. Or, your bonus will always be less than you deserve. People in corporate finance have the most expensive suits. When banks downsize they tend to get rid of the most useful people first. And how about the perennial truism, bondholders are treated as second-class citizens by corporations.

But the last statement might need to be revised. Corporations