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July 1, 2010

Porterbrook ‘saves European company bond sales’

UK rolling stock lessor Porterbrook Rail has offered £520m (628m) of bonds to investors today (4 June), according to reports. Prior to this, deals from Air Liquide, the worlds largest producer of industrial gases, and state-owned German rail company Deutsche Bahn, on 2 and 3 June, had failed to keep issuance from heading towards a total short of 2.1bn.

By Verdict Staff

UK rolling stock lessor Porterbrook Rail has offered £520m (€628m) of bonds to investors today (4 June), according to reports.

The sale is said to have saved issuance from falling to the lowest ever in Europe this week, after a record low in the week beginning 16 May.

Prior to this, deals from Air Liquide, the world’s largest producer of industrial gases, and state-owned German rail company Deutsche Bahn, on 2 and 3 June, had failed to keep issuance from heading towards a total short of €2.1bn.

Derby-based Porterbrook reportedly priced two portions of bonds with different maturities, although it is believed an official announcement has yet to be made.

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