Unilever keeps strong sterling run going

unilever 230x150
By Nigel Owen
14 Sep 2017

Anglo-Dutch consumer goods company Unilever printed the fifth sterling corporate bond deal in as many days on Monday. The £500m dual tranche deal offered investors seven and 12 year tenors. Before this deal it had only 2018 and 2022 maturities outstanding in sterling.

BNP Paribas, Citi, JP Morgan and Nomura were lead managers on the deal, which was launched with initial price thoughts of 75bp-80bp over Gilts for the seven year tranche and 90bp for the 12 year tranche.

Guidance saw the spreads tighten to 70bp-75bp ...

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