QTC deal: everyone’s a winner

23 March 2016

 

QTC has announced what they referred to as a “material change” in its outstanding benchmark series. After receiving a reverse enquiry from a large institutional investor, QTC bought back $500 million September 2017s and $500 million September 2018 bonds and issued $1 billion worth of bonds comprising $650 million July 2022s and $350 million July 2023s. The institution was clearly seeking to extend duration in their portfolio and QTC was...

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