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GC Asia
Tesco Bank flexes retail muscles with jumbo-sized bond
Tesco Bank has closed books on its third retail bond, a £200m eight year deal with a 5% coupon. Books were supposed to close on Wednesday but bookrunners Barclays and Investec were forced to shut them early because of the strength of demand.
The deal is Tesco Bank’s largest to date and is also the largest fixed rate bond ever to be issued on the London Stock Exchange’s orderbook for retail bonds (ORB) platform.
“It’s phenomenal to have closed the books on a Monday when they were due to close on Wednesday,” ...Please take a trial or subscribe to access this content.
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