Motability, OMV and CNH pack busy market

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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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