Rhodia
French chemicals firm, Rhodia (BBB-, stable/Baa3, negative) is still a name listed on the new issue pipeline, but it seems the market may be waiting in vain for the borrower to launch its planned €300-€500 million deal.
Lead managers BNP Paribas, HSBC and Fortis say the deal has been postponed and they are unable to provide any new information, blaming the high-yield premium demanded by investors for the postponement. But some wonder whether the deal will actually surface at all.
Says
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