Unrated Phoenix looks for bond market debut

By Nathan Collins
25 Jun 2014

UK insurer Phoenix Group started a roadshow and is expected to bring its debut bond next week. With the pipeline quiet, bankers away from the trade welcomed the deal, though warned that the lack of a credit rating would create discussion among investors.

Citi, HSBC, JP Morgan and Lloyds arranged investor meetings for the insurer on Wednesday and Thursday with a sterling senior deal to follow.

The issuer is unrated by the big agencies, but syndicate bankers away from the deal see it as on the borderline between investment grade and ...

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