Motability, OMV and CNH pack busy market

By Alex Radford
26 Jun 2019

Motability Operations Group, the UK company that operates the UK government's scheme to provide cars for the disabled, printed a £1.438bn-equivalent euro and sterling three tranche bond on Wednesday, in a busy day that also brought a €1bn two part issue from OMV, the Austrian oil and gas company.

Motability as usual used its shareholders as bookrunners: Barclays, HSBC, Lloyds and NatWest Markets. The deal had been roadshowed from Friday.

The leads announced three benchmark tranches, with initial price thoughts of 65bp over mid-swaps for the 6.5 year euro and 120bp and 130bp over mid-Gilts for the 10 and ...

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