TDC, the Danish telecoms operator, has capitalised on a lack of long-dated supply from European telecoms companies with a €750m ($660.1m) benchmark 10-year bond that was more than twice oversubscribed.

Demand for long-dated corporate debt is strong, particularly within the telecoms sector, where there has been little highly rated supply this year. Investors were attracted by the strength of the TDC credit, which is among the highest-rated European telecoms firms despite being downgraded last month.