Street Calls of the Week
Investing.com -- JPMorgan Chase & Co’s high-yield credit trading desk facilitated the sale of Worldline SA bonds previously held by the European Central Bank in a transaction valued at approximately €200 million ($236 million), according to Bloomberg, citing people with knowledge of the matter.
The U.S. bank spent several days last week assembling a substantial block of the French payments company’s debt, which was then sold in portions to various fund managers, these people said. It remains unclear whether other financial institutions participated in the bond sale.
The Financial Times was the first to report on the ECB’s divestment of these bonds. The Worldline debt instruments were originally acquired by the ECB as part of its corporate sector purchase program, an initiative launched in 2016 designed to stimulate economic growth and inflation across the eurozone.
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