European borrowers bond with Asia

Asian investors are embracing more lower rated European borrowers as the hunt for yield continues.

Marquee European corporates such as Spain’s Telefónica, Britain’s Vodafone and Electricite de France have joined the fundraising rush in Asia, but also lower-rated firms are able to raise capital in the region.

As financial turmoil roiled the West almost a decade ago, banker Alain Gallois could only look on as Asian debt capital markets boomed. Now, having relocated to Hong Kong from Paris a year ago, he is among those looking to broker more deals between potential European borrowers and increasingly cash-rich Asian investors.

Since he was appointed Natixis’s chief executive for the Asia-Pacific region in July 2016, Gallois and his bankers are preparing to bring...

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