Total eclipses previous tight spread for €1.5bn
Total, the French oil company, has been a frequent issuer of euro bonds, raising €7bn in 2016 and more than €5bn in each of the two previous years. However, it waited until the last week of September to sell its first new issue in euros in 2017.
Total’s only offering previously in 2017 was a £250m seven year deal sold earlier in September. The sterling deal was priced at 70bp over Gilts, which equated to 10bp over mid-swaps in euros at the time.
The new deal was launched as a dual tranche €500m
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