Glaxo goes head to head with UTC and both come out winners

Petr Sagan
By Nigel Owen
17 May 2018

Two A rated corporates went head to head in the euro corporate bond market on Monday as UK pharmaceuticals giant GlaxoSmithKline and US electrical systems manufacturer United Technologies Corp both launched triple-tranche deals, with two matching maturities involved in the €4.5bn of bonds.

Glaxo had hit three, five, seven and 10 year tenors with a $6bn five-tranche dollar trade the previous Thursday, so opted for a two year floating rate note and eight and 12 year fixed rate notes in euros. However, United Technologies Corp also announced a two year ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.