Why wait? British Land launches intra-day after Sofina shows the way

British Land took the unusual step of launching a convertible bond in the middle of the trading day on Tuesday, offering a deal of £300m with a £100m increase option just before 3pm in London. It came following a strong response from pre-sounding — and at a time when books were multiple times covered on a $250m bonds and warrants deal being placed for Belgian investment firm Sofina into GDF Suez.