French construction, telecoms and media company Bouygues' £400 million 20-year bond issue in late September marks a first for the company in a number of ways. Not only was it the company's inaugural non-euro issue, but it was also the first time that it had issued beyond 15 years in the corporate debt markets.
"We wanted a longer maturity so we were advised to issue in sterling," says an official at the company. "The sterling market is more attractive because of the greater numbers of long-da
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