EMEA

摘要

Creene king priced its 19-year pubco bond last Thursday, tightening spreads despite offering long-dated UK risk. The UK brewer and pub retailer started marketing the senior secured bond at 275bp-285bp plus mid-gilts on Thursday morning. Leads eventually tightened the spread to 265bp, setting the size at £300m. The issue is rated A(sf)/BBB+(S&P/Fitch, both stable). The notes mature on March 15 2035 and have an average life of 10.55 years. The settlement date is May 26 2016. HSBC is arranger and joint lead, together with RBS.