A new sterling offer from sainsbury brought the corporate hybrid market back to life on Thursday, after a combination of interest-rate and Greece-related volatility put a swift halt on new supply in recent months. Sainsbury issued a £250m debut corporate hybrid alongside a £250m convertible hybrid bond that dragged down funding costs to an attractive 4.5%. The straight hybrid followed roadshows earlier in the week, but the inclusion of the convertible was a surprise -and provided much-needed competition for paper.
展开▼
