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Another tale in the frenzy for yield, Mexican chemical giant Mexichem sees a whopping $17.5B in...
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Friday, September 21, 2012, 3:25 PM ETAnother tale in the frenzy for yield, Mexican chemical giant Mexichem sees a whopping $17.5B in bids for $1.15B in long-term notes. A healthy transaction, says HSBC's Katia Bouzaaz, is 2.5-3.5X, and 5X is considered high, but 15X is unheard of. "It's a chase for yields ... 6.75% for 30-year (IG) paper is pretty attractive." Smiles abound at the Eccles Building.
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