While undoubtedly helped by the rising palm oil prices and the fact that investors have made money on two previous exchangeables into IOI, the demand was nevertheless impressive and suggests investors are ready for more CBs. While the credit environment hasnÆt changed much since the significant widening at the end of the third quarter, investors and issuers are now coming to terms with the fact that spread levels may have been too tight before and that current levels may be the new reality....
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