Sterling
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GlobalCapital speaks to the company's management following its largest acquisition that spurred a rights issue and a debut RT1
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UK water companies rally as Cunliffe review promises seismic change
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◆ 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
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◆ Lack of competing issuance and high yield alternatives lure buyers ◆ £150m deal more than nine times subscribed ◆ 'Punchy' spread differential between Chesnara's outstanding tier two and new RT1
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◆ UK insurer to add debt capital after equity ◆ Deal to finance HSBC acquisition ◆ Credit markets are receptive for subordinated debt
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Company's core lenders provided loan for development pipeline
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◆ Debut issuer draws solid demand ◆ Orderbook almost touches £1bn at peak ◆ Investors see triple B corporate sterling as enticing prospect
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◆ First offshore deal in sterling since PRA debacle in April ◆ Canadian undersupply driving demand ◆ Euro still better despite the UK Treasury's equivalence plans
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Proposals a welcome surprise that could lead to new names and tighter spreads
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No sign of an issuance drought in hot market
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Company's bespoke financing will help fund growth
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The UK will do better with tactical retreats on regulation than risking being outflanked by the US's wildcat banking regime