UK UTILITY United Utilities Plc underlined the growing US investor appetite for Yankee bonds from British-based companies this week with a $500m 10 year offering led by JP Morgan. The deal, launched at 89bp, is the latest in a string of UK-based utilities that have launched Yankee bonds in the past nine months. It comes just weeks after Cable & Wireless Communications blitzed the Yankee market with its $1.8bn multi-tranche deal, the largest UK deal yet.
March 27, 1998