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UK water companies rally as Cunliffe review promises seismic change
◆ United Utilities lands flat to fair value with rare green bond ◆ Southern Water draws book size over £3.75bn at peak ◆ Optimism regained in the troubled sector
◆ US telecom prints long seven and 12 year bonds ◆ Deal upsizes to €2bn ◆ Spreads on both legs tighten by 38bp
◆ Final order peaks at 8.6 times subscribed ◆ Spread tightens by 38bp from initial thoughts ◆ Investors flush with cash chase limited supply
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Borrowers fill screens on Thursday after poor market open a day earlier kept issuers away
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Potential Gilt volatility prompts market debate
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Borrower looks to have paid modest concessions after credit markets opened wider on Wednesday
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Hybrid from Snam and sustainability from Welsh Water
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Borrower buoyed by rarity and recent ratings upgrade in €650m trade
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Spreads tighten by more than average in sign that investors are far from sated