Rothesay Life hits sterling for blowout tier two

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By David Freitas
10 Sep 2019

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 ...

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