Brexit punctures SSA pipeline

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By Craig McGlashan
24 Jun 2016

Bund yields seared past their record lows on Friday morning after the UK voted to leave the European Union — but no one on the continent will be celebrating the super cheap funding on offer as ‘Brexit’ blocked next week’s pipeline and ensured the only certainty over the next few days is more uncertainty.

Public sector borrowers were well prepared for the vote — most are well ahead on their funding programmes and have no real need to raise debt before the summer — but some deals that were expected to follow a Remain vote are almost definitely off the table.

“This ...

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