Accent housing group makes tight debut in wider NIP mart

By Alex Radford
11 Jul 2019

New issue premiums have been widening somewhat in Europe's corporate bond market in recent weeks, but Accent, a UK housing association, priced its debut bond at a level bankers said was tighter than where comparable issuers were trading.

After a roadshow that finished on Wednesday, Accent, rated A+ (negative) by S&P Global, launched a £350m 30 year note, of which it intended to retain £125m.

Bookrunners Barclays, Lloyds Bank and NatWest Markets set initial price thoughts at 145bp over mid-Gilts.
Investors ploughed over £1.3bn into the book, leaving ...

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