Burberry in vogue with ESG sterling debut

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By Mike Turner
14 Sep 2020

Burberry, the UK fashion house, was bang on trend on Monday with its debut bond in sterling, showing that rampant demand exists across currencies for sustainability-themed debt.

Burberry, with a newly minted Baa2 rating, came to the market for a £300m no-grow September 2025 sustainability bond at 180bp over mid-swaps, after holding investor calls last week.

HSBC, JP Morgan, NatWest Markets and Société Générale ran the deal.

The borrower set guidance on the trade at 150bp over ...

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