Issuer of the month


De Beers, the South African diamond mining conglomerate, took a sterling-denominated bond on roadshow early last month, only to pull the deal a few weeks later. Market sources say the bond, rumoured to be in the region of £500 million, failed partly because De Beers did not seek a credit rating from any of the major rating agencies.

A spokesperson for De Beers gave few details, but claimed that the deal had been pulled because poor market conditions prevented them from finding a satisfactory

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