ESB wins rampant demand, but did it pay a pick-up?
Electricity Supply Board, Ireland’s leading electricity company, was swamped with demand on Tuesday for a €300m 10.2 year bond – though opinion was divided as to how tightly the deal was priced.
BBVA, BNP Paribas, Danske Bank and Royal Bank of Scotland had held an investor call to prepare for the Baa3/BBB+/BBB+ rated deal on Monday, and then took indications of interest.
A banker at one of the leads said they had sent out indicative bid levels on Monday showing
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