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Corporate BondsHigh grade and crossover bonds

Tesco swamped with orders as sterling market picks up

Bitten Pound

Tesco, the UK grocer, found the queues for its sterling bond issue on Monday were almost as long as those for its toilet roll. Pent-up demand for sterling debt meant its £450m trade was more than eight times oversubscribed and priced through higher rated comparable debt.

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