BAT totals $21bn with transatlantic debty dozen

BAT HQ
By Nigel Owen
10 Aug 2017

British American Tobacco set fire to any notion that markets close in August this week with a $20.8bn bond bonanza. It brought a $17.25bn eight tranche deal on Tuesday — the second largest bond transaction of the year in the US — and followed that with a €3.6bn-equivalent four tranche dual currency deal in Europe on Wednesday. Nigel Owen reports.

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While the US market has yet to show any signs of slowing down for the summer, some participants had declared the euro corporate market closed after two weeks without a deal, while there hadn’t been a sterling deal ...

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