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WPIR gambit helps CRH limit 7s’ NIP, but demand still soft

Posted on 20 November 2019


CRH adopted a “will price in range” strategy from the outset for a seven year deal today in light of investor hesitation ahead of year-end, and was able to price a €1bn issue at a new issue premium of 1bp on a “challenging” day in the market, albeit with a limited order book of some €1.1bn...

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