Glaxo showered with demand for Eu3.5bn bond

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

Glaxo showered with demand for Eu3.5bn bond

Double-A rated GlaxoSmithKline issued a Eu2.25bn five year bond and a Eu1.25bn 10 year yesterday. Credit Suisse, Deutsche Bank and Lehman Brothers garnered over Eu6bn of orders and proved that, contrary to some views, European investors are still willing to buy corporate bonds. But there is no guarantee this will lead to a revival of euro issuance before year end. Glaxo paid a 45bp premium over its credit default swaps on the five year, the type of premium few European issuers are expected to want to concede.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login
Gift this article