Non-UK issuers find diverse investor appetite in sterling market

By David Freitas
25 Jul 2019

Industrial and Commercial Bank of China and Banco Santander tapped the sterling market for senior bonds this week and what bankers said were high-quality orders led both issuers to increase the size of the benchmark transactions.

“There is increased appetite for non-UK issuers compared to domestic names," said one of the leads on the Santander transaction. "We’ve seen a lot of demand, but there’s clearly some sort of reservation for some UK credits given the Brexit context,”

Indeed, Banco Santander is the 10th issuer domiciled outside ...

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