Investors pour in to Prosus’s euro debut

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By Mike Turner
28 Jul 2020

Prosus made a barnstorming debut outing in the European bond market after Monday’s dollar trade, with the ecommerce and investment company that straddles investment grade and emerging market investor interest seeing €13.5bn of demand for a €1bn deal.

Prosus, rated Baa3/BBB-, opened books on an August 2028 bond at 245bp over mid-swaps and an August 2032 trade at 280bp over.

The company’s CFO, Basil Sgourdos, said during investor presentations last week that he wanted to raise around $2bn between the two euro and dollar trades, and with ...

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