BP returns to respectability with euro deal
BP, fresh from issuing a $3.5bn bond in the US, hit the European market on Monday with a Eu2bn four and seven year deal. The borrower — having finally plugged the leaking Macondo oil well last month — garnered Eu9bn of orders and managed to price the respective tranches at 135bp and 160bp over swaps, both 15bp inside initial whispers. To find out more, read EuroWeek on Friday.
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