BMW steers through busy week in congested sterling

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By Michael Turner
10 May 2017

Car maker BMW kept the week’s vibrant sterling market going on Wednesday by bringing a £250m 4.5 year trade, following a day behind a £300m transaction for construction company LafargeHolcim.

Germany’s BMW, rated A1/A+, hit screens with initial price thoughts of 80bp area over the 3.75% September 2021 Gilts via leads HSBC and NatWest Markets.

“There has been some good momentum in sterling,” said a banker at one of the leads.

BMW set ...

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