Non-UK issuers find diverse investor appetite in sterling market

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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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