Tesco Bank opens book on Orb trade
Tesco Personal Finance is taking orders for its first senior unsecured deal — a long seven year bond marketed to retail investors and tradable on the London Stock Exchange’s retail bond platform.
Barclays Capital and Evolution Securities are lead managing the deal, which will pay a 5.2% coupon.
The deal is the first of its kind for the issuer, which has only borrowed once on public markets. That was a three year government guaranteed deal sold in February 2009, on
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