UK
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DMO has two more syndications left for this financial year -
UK grocer lands blowout demand in first deal from new EMTN programme
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Bulk of financing for sector is new money, rather than refinancing
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◆ Size on upper end of DMO's expectations ◆ Minimal new issue premium ◆ Gilt to be auctioned next month
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Some of these deals stalled late last year and have spilled over into this year
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◆ Deal the UK lender's largest since 2010 ◆ Little to no premium paid ◆ UK paper in euros pricing close to EU peers
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Company is reducing size of its loan and bond debt in combination deal
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New banks join borrowing base and term loan
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Credit score company overcomes investors' concerns to tighten pricing sharply
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Blowout demand for 20 year sterling tranche suggests investors are not beholden to rate volatility
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Vacancy filled following Jessica Pulay's promotion to be chief last year
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◆ Investors show little concern over sterling instability ◆ Deal comes flat to fair value ◆ Prices flat to peers and inside recent SSA supply
