Zions online bond sale raises questions for issuer


By Andrea Johnson March 28 (IFR) - Zions Bancorporation's sale last week of corporate bonds via an internet auction, its biggest such offer to date, provided a more level playing field to small investors who are often locked out of deals. But the bonds' price gains in secondary trading this week suggest the web platform may not be ideal for the issuer. Zions on March 22 priced a $300 million 5-year offer via an internet-based modified Dutch auction mechanism, administered by Zions Direct ...

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