InterContinental and SEA hire for fresh trades

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By Mike Turner
29 Sep 2020

The UK’s InterContinental Hotels and Italian airport Società Esercizi Aeroportuali have mandated for bond issues, giving investors another attempt to pick up some potentially higher yielding debt than has been on offer recently.

InterContinental, rated BBB- with a negative outlook by S&P, has hired banks for a €500m four year issue and a sterling benchmark of eight to 10 years. 

It is running a simultaneous tender offer on its £400m 3.875% November 2022s, with the new sterling tranche earmarked to pay for ...

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