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Big Mac bond prices close to France

First large bond denominated in euros by fast food giant underlines attractiveness of corporate credit relative to sovereigns

McDonald’s first large bond denominated in euros priced in sovereign territory last week, underlining the attractiveness of corporate credit relative to troubled European countries.

The US fast food giant issued a €500m, 12-year bond on Friday afternoon at 53 basis points over mid-swaps, the benchmark commonly used as a pricing reference in the bond market.

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