Investors in the European bond market have shown strong appetite for long-dated corporate bonds, leading to France Télécom's 30-year bonds being more than three times oversubscribed.

The €5.5bn ($5.8bn) deal priced on Wednesday, which comprises five-year, 10-year and 30-year debt, has already been increased from initial expectations of €3bn due to strong demand from credit investors. Market players said that the €1bn 30-year tranche, which is only the second corporate bond with that tenor, received orders in excess of €3bn.