MF Global Cancels $250 Million 10 Year Bond Offering Due To "Market Conditions"
MF Global Ltd., the futures and options broker, canceled plans for a $250 million offering of 10- year senior notes, according to a person familiar with the matter who declined to be identified.
The offering was canceled because of “market conditions,”
the person said.
And some trader commentary:
Hearing the [MF Global Ltd "MR"] USD250m SEC registered 10y issue has been pulled due to market conditions. JPM sole books. Co-mgrs: Citi, MF, Wm Blair. Rated Baa2/BBB.
That's not good for the equity bubble chasers. Credit is always right in the end. And if even JPM can't sell an IG bond, the window is now closed, except for the momos chasing every offer higher.