Pemex and Western Power fire up the sterling market
On Thursday, the sterling corporate bond market reminded participants it was still going strong after the euro market had dominated the first half of the week. Petroleos Mexicanos, also known as Pemex, and Western Power Distribution followed the success of Wednesday’s deal from Manchester Airport.
Manchester Airport printed a £300m 21.5 year deal with a single digit new issue premium and order books three times oversubscribed. Both deals printed on Thursday saw similar results.
Western Power has formed a trend of selling new issues in years ending on odd numbers. It
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