London & Quadrant brings second sterling dual tranche
On Thursday London & Quadrant Housing Trust became the latest issuer to tap the strong demand from sterling investors with a £500m 12 year and 40 year dual tranche structure. This was the second dual tranche sterling deal following Digital Stout’s £600m seven year and 12 year combination the day before.
Digital Stout had amassed a combined order book of over £3bn ($3.88bn) and both tranches priced inside where its existing bonds had been marked in the secondary market. The bonds had also tightened 3bp-5bp in early trading.Before announcing its deal, London & Quadrant had £1.1bn of ...
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