GM and Shaftsbury take lonely walk through corporate sterling

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By Victor Jimenez
31 Aug 2017

Only two issuers raised sterling debt this week, with car finance company GM Financial and UK property company Shaftesbury Chinatown printing £640m between them.

GM Finance priced a £350m seven year issue at 158bp over the 2.75% September 2024 Gilt. Barclays, Goldman Sachs, Lloyds and NatWest Markets were leads.

The Baa3/BBB/BBB rated car finance company started the day at initial price thoughts of 165bp area before tightening to guidance of 160bp area.

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