STERLING

摘要

UK housing association LIVEWEST HOMES returned to the sterling benchmark market for only its second ever visit last Thursday, to raise funding in order to support its growing capital expenditure. LiveWest, which manages more than 37,000 homes in the South West of England and has been expanding its use of bond market funding to help finance its developments, tapped Barclays and Lloyds to place a £250m 35-year note via issuer LiveWest Treasury. The leads were able to fix the spread on the bonds at 90bp over Gilts, having initially offered them at the 105bp area, after books exceeded £625m. The issuer retained £100m.