Apple clash no bar to big book for Stedin

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By Mike Turner
07 Nov 2019

The Netherlands’ Stedin Holding, a holding company for electricity and gas grids, issued its debut green bond on Thursday, pricing it through its curve.

ING and NatWest Markets were green structuring advisers, joined as bookrunners by ABN Amro and BNP Paribas.

Stedin, rated A- by S&P Global, hit screens with a €500m no-grow 10 year trade at initial price thoughts of 75bp over mid-swaps. 

This offered about a 23bp premium to the issuer’s curve, ...

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