Repsol soars in hybrids as market ignores macro
![Repsol_Filling_Station_10May2017_RepsolImageGallery_230x150](https://assets.euromoneydigital.com/dims4/default/c12f8ac/2147483647/strip/true/crop/230x150+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F87%2Ff7%2F378ec8b879335397af1b4d504e49%2Frepsol-filling-station-10may2017-repsolimagegallery-230x150.jpg)
Repsol, the Spanish oil major, had a rip-roaring time in the hybrid capital bond market on Tuesday, achieving bumper books and paying minimal new issue concessions for its dual tranche issue. But some bankers think the market is starting to look too exuberant and may be due a correction.
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