Scottish Power gets £350m before market sours

07 Jul 2011

Scottish Power Distribution, a unit of Iberdrola’s UK electricity arm, priced its £350m bond today, finding healthy demand despite the turbulence in credit markets this week.

The deal was priced in the early afternoon, London time. Twenty minutes later, a shocking non-farm payrolls report in the US showed only 18,000 jobs were created in June and 25,000 in May, fewer than previously thought.

The Euro Stoxx 50 index lost 1.2% in minutes, then US stocks ...

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