BAE and GE join sterling parade

24 May 2012

The strong run of sterling corporate bond issues since last week continued today when GE Capital raised £300m of September 2015 bonds and BAE Systems a £400m 10 year.

BAE Systems, formerly British Aerospace, is the UK’s leading defence company, but it has never issued a sterling bond before.

There were therefore high expectations after its roadshow via Bank of America Merrill Lynch, BNP Paribas, Lloyds and Royal Bank of Scotland.

The leads announced the bond with price guidance ...

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