Gas Natural’s €600m 10 year leaves buyers thirsty
One of Spain’s leading utilities, Gas Natural, followed its compatriot Telefónica into the market on Wednesday with a €600m 10 year bond that, like many others this week, was a huge blow-out.
Gas Natural had been ready to issue on Tuesday, and lead managers BBVA, Crédit Agricole, CaixaBank, HSBC, ING and JP Morgan encouraged it to go ahead, but it played safe and avoided clashing with Telefónicas 1.5bn 10 year.The bookrunners announced the deal early, at 8am London time, ...
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