Red faces at Equiniti but re-issued £440m still five times covered

Equiniti, the UK financial services outsourcing group, had to take the highly unusual step this week of withdrawing a high yield bond between pricing and settlement, and then re-selling the bond with adjusted terms.

  • 07 Jun 2013
Despite this gaffe, which cost it many investors, the company completed the second attempt at making its high yield debut on Tuesday evening, getting the £440m deal it wanted away successfully. The order book was about half the size of that for its first, highly oversubscribed issue on ...

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3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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