Once is an accident, twice is coincidence….

20 September 2017

 

YieldReport has noted two AOFM bond tenders recently in which one bidder has bought the entire offering. The most recent occasion was three weeks ago at the very start of September and at that tender $500 million December 2021s were bought by one bidder. Today the AOFM offered $600 million December 2021s for purchase by tender and again, one bidder bought the lot. What caught people’s attention was the fact...

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