Sterling High Grade corporate - Winner: Centrica

Bookrunners: Barclays Capital, BNP Paribas, HSBC, Royal Bank of Scotland

The timing of Barclays Capital's successful £750 million dual tranche launch for UK gas supplier Centrica was fortuitous, coming as it did in the week before the collapse of Lehman Brothers, but investor demand and placing owed everything to the planning beforehand.

The deal marked the first time single-A rated Centrica had ventured into the sterling arena for 23 months. The issuer opted for a dual tranche structure

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