Six handle clears path for Vivat in Tier 2

摘要

Vivat got its first Tier 2 bond away at 6.25%, a sufficiently attractive coupon in a world of shrinking returns to override concerns over the company's profitability and a lack of transparency around its Chinese parent. Books for the US$575m perpetual non-call five-year closed around US$1.6bn. Marketing had started at mid to high 6% earlier on Thursday after a recent roadshow in Asia and Europe.