Network Rail


Network Rail's record breaking 30-year inflation-linked eurosterling bond found favour with investors when it priced on May 2. Initial price guidance of 25-28 basis points over the 2037 inflation-linked gilt attracted £2 billion of orders, and finally priced at +26bp for a £1 billion deal. The deal tightened in the secondary markets to 25/24 towards the end of May.

"The reception has been more than enthusiastic and has exceeded everyone's expectations of what a successful deal would be," says