Wessex Water, National Grid show sterling market lives in a Brexit world

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By Mike Turner
07 Jan 2021

Wessex Water, the UK utility, and National Grid this week proved that there is still demand for sterling corporate paper in a post-Brexit world, with both issuers seeing chunky oversubscriptions for their trades.

Wessex Water got the most eye popping demand. The issuer achieved almost five times oversubscription for its 15 year trade.

“We can all stop umming and ahhing about what’s going to happen with Brexit now,” said a syndicate banker that ran a trade this week. “The market wanted certainty ...

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