Sterling
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◆ UK insurer to add debt capital after equity ◆ Deal to finance HSBC acquisition ◆ Credit markets are receptive for subordinated debt -
Company's core lenders provided loan for development pipeline
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◆ Debut issuer draws solid demand ◆ Orderbook almost touches £1bn at peak ◆ Investors see triple B corporate sterling as enticing prospect
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◆ First offshore deal in sterling since PRA debacle in April ◆ Canadian undersupply driving demand ◆ Euro still better despite the UK Treasury's equivalence plans
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Proposals a welcome surprise that could lead to new names and tighter spreads
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No sign of an issuance drought in hot market
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Company's bespoke financing will help fund growth
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The UK will do better with tactical retreats on regulation than risking being outflanked by the US's wildcat banking regime
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Société Générale arranges facility, which sees UK's National Wealth Fund join
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◆ Yorkshire Water markets two bonds at identical IPTs ◆ Tranches neck-and-neck through guidance ◆ Longer maturity ultimately tightened farthest
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Plans could revive offshore sterling issuance suppressed by poorly received PRA proposals
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Yorkshire Water casts lonely figure in rapidly thinning issuance market
