Rarity value of German corporate issuance stokes investor demand

Always leave them wanting more

Revving up: Bond issuer BMW has benefited from strong sales figures since the second quarter

After a glut of borrowing in 2009, when German companies took advantage of the dramatic return of investor appetite for corporate credit to lock in long-term financing, this year has seen a significant contraction in new deals. Investment grade issuance by German corporate names totalled some €23 billion by mid-October, and it looks unlikely that full-year volumes will come close to the €71 billion issued last year.

When looking at the figures alone, German corporate issuance in 2010 seems more l