Tesco and Stryker find warm welcome

By Mike Turner
26 Nov 2019

Tesco, the UK supermarket chain, and US medical equipment firm Stryker sailed through the European bond market on Monday. Both issuers benefitted strongly from having picked the right moment to launch.

Tesco was rewarded for its timing on Monday. It came to the market soon after being upgraded to investment grade by S&P, and priced a €750m May 2026 bond inside its curve.

The deal came at mid-swaps plus 110bp. This was around 5bp inside the curve, according to a ...

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