German train pricing preferred to British in sterling, despite similar routes

By Nigel Owen
29 Jun 2017

Two public transport operators offered deals to the sterling market this week, with varying success. Demand was strong for both deals, which had similar tenors, but one enjoyed a smoother pricing ride than the other.

On Tuesday, Deutsche Bahn returned to the sterling bond market for the first time in nearly four years. The state-owned German railway company printed a £300m eight year deal, achieving tighter pricing than it would have got in euros.

Before Tuesday, the Aa1/AA- rated company had three ...

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