Strong endorsement for euros as BT jumbo soars

January 19, 2001 12:00 am

British Telecommunications this week demonstrated overwhelmingly that the euro market is well on its way to rivalling the dollar market in terms of size and liquidity by absorbing Eu8bn of the UK telcos’ debt in various maturities. The overall size of the transaction was boosted to Eu9.7bn equivalent by £1.1bn raised in the sterling market in two tranches — a £400m five year and a £700m 15 year. The original intention had been to raise Eu5bn equivalent in the two markets.

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