Serco tests market appetite with PP raise

Serco_PA_575_375
By Silas Brown
17 Aug 2020

Serco is set to sell US private placements, according to market sources, a rarity from the UK support services since the sector fell into hot water with PP investors a few years ago.

Bank of America and Barclays are arranging the deal, according to two sources. GlobalCapital has not yet established the size Serco is targeting, but two sources said it was not likely to be large.

One senior arranger, away from the trade, said: “It’s going to be a test of ...

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