Bunzl sees 4.5 times oversubscription for sterling trade

By Mike Turner
21 Oct 2020

Bunzl, the distribution and services company, topped off a strong few days by printing a £400m from bulging order books a week after announcing growth in its third quarter trading statement.

Bunzl, rated BBB+ with S&P, started marketing its sterling denominated benchmark size October 2030 at 150bp over Gilts after investor calls on Tuesday. 

BNP Paribas, NatWest Markets, Santander and Wells Fargo ran the trade.

Demand hit £1.5bn at guidance of 130bp over Gilts, with books continuing to grow to £1.8bn ...

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