Stedin debut survives aggressive tightening
Dutch grid operator Stedin, formerly part of Eneco, was one of several issuers that met with investors before announcing deals this week. It had been discussing a sub-benchmark three year to five year floating rate note and a benchmark eight year fixed rate note, for what was essentially its bond market debut.
Stedin, rated A- by Standard & Poor’s, split from Eneco in February 2017 and this was its first issue since the split.
“Because to all intents and purposes this was Stedin’s debut we did the full four day roadshow,” said a banker on the deal. “It was
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