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

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High grade and crossover bonds

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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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