Rentokil relishes swarm of investors in first bond for five years

16 Sep 2012

Financial markets, including credit indices and peripheral government bonds, were slightly weaker, but Europe’s corporate bond market shrugged it off. “Who cares?” asked one syndicate banker, as Rentokil Initial and Iberdrola attracted large books for today’s two corporate issues.

Rentokil, the UK pest control, cleaning and catering group, was lucky enough to have the market almost to itself today, after an intensely busy fortnight of deals, when it launched the €500m seven year bond for which it had prepared with a roadshow from Monday to Thursday last ...

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