Euro, sterling corporate bond markets get back to work

UK utility Severn Trent sold a Eu700m bond yesterday (Tuesday), making the most of investors’ demand for high quality credits at an appealing price. British American Tobacco is in the market with a euro seven year and sterling 16 year offering today. Guidance is 180bp-185bp over euro mid-swaps and 270bp-275bp over Gilts. Read EuroWeek on Friday to find out if investors’ appetite was finally satisfied this week.