Rothesay Life chose a quieter day in UK politics to issue a tier two in the sterling market on Tuesday. It also took advantage of the lack of supply in the currency and the deal was oversubscribed four times its £400m size.
Rothesay Life chose Barclays, HSBC and NatWest Markets to lead the sale of its 10 year non-call five tier two bond in the sterling market.
These lead managers started out with price thoughts in the 550bp area over Gilts.
Order books built quickly, hitting £750m in