Slick execution for ZSE dual tranche debut
Slovakia’s largest electricity distributor, Západoslovenská Energetika (ZSE), made its bond market debut this week with a dual tranche euro deal. The borrower originally intended to sell the bond over two days and turn to the private placement for additional funding. But a strong response from buyers provided faster than expected execution and allowed ZSE to take the full €630m it wanted from the public market.
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