TenneT green bond attracts quality bid
TenneT, the Dutch electricity grid company, brought a €1bn dual tranche green bond issue on Monday that was oversubscribed, but by less than other recent deals. However, the quality of the book helped both tranches perform in the secondary market.
“The book size was slightly lower than we’d have liked,” admitted a syndicate banker on the deal. “But the quality was very high and both tranches have tightened by three or four basis points.”
The A3/A- rated issuer and its lead managers ABN Amro, HSBC and SMBC Nikko
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