Thursday February 27, 2020

Ex Post Facto

Behind the stories.

13th July, 2013
Patrick Coveney: chief executive of Greencore. Photo: Tony O'Shea

Grafton Group learned a tough lesson in the bond markets last week: don't sell debt into a falling market. The building materials firm was looking to diversify its funding with a retail bond issue worth up to £50 million.

Unfortunately, it announced the offer on June 24, right after Ben Bernanke spooked markets with a hint that he might start tapering the Federal Reserve's $85 billion monthly bond purchases by the end of the year....

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