National Grid goes solo for €300m tap

By Jon Hay
31 Jan 2014

National Grid, the UK electricity transmission company, was the only European investment grade company to issue a public bond in the European market on Tuesday. Its €300m tap was no show-stopper, but at least proved a price-sensitive issuer could get a deal done.

The steep falls in risk markets on Thursday and Friday bottomed out on Monday, but Tuesday was the first real day of stability. “The market is better,” said one corporate bond syndicate banker on Tuesday. “I hope it’s not a dead cat bounce but a return to the ...

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