BT picks dollars again, seeing cheaper cost at short end

By Jon Hay
12 Feb 2014

BT Group, the UK’s dominant fixed line telecoms company, raised $1.3bn in the dollar bond market on Tuesday – the third deal in a row it has done in the US.

The Baa2 (positive)/BBB (stable) rated company has not issued in euros since 2009, or in sterling since 2007. Some bankers in Europe were disappointed that BT had not come to the European market this time.

“No one knows why BT went to dollars again, when they have no ...

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