GM and Shaftsbury take lonely walk through corporate sterling

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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