STERLING

摘要

Cardiff university wasted little time in tapping the market for its December 2055 benchmark, announcing its bond on Monday morning, having held a UK roadshow the week before. HSBC, Lloyds and Morgan Stanley acted as lead managers for the Aa2 rated institution, having also arranged its roadshow. Initial price thoughts started at 90bp area over the 4.25% December 2055 Gilt, before final guidance was announced at 85bp-90bp as orders topped £450m. Final terms were announced for a £300m size at mid-Gilts plus 85bp.