Motability dual-tranche debut social finds good traction

摘要

MOTABILIY OPERATIONS brought its debut social bond to market last Wednesday and demand - across both sterling and euro tranches -demonstrated that ESC-themed deals continue to command extra interest from investors. ESC issuance may now be commonplace in the euro market and projected to rise rapidly throughout 2021, but sterling has seen less activity, and the 20-year leg of Motability's new issue marked the first social corporate sterling bond sold in the primary market since publisher Pearson issued in May 2020.