Fast-Approaching Brexit Deadline Spurs Pound-Bond Sales Rush
- BMW, Just Life among six borrowers offering pound notes
- September is busiest month for sterling issuance since January
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Bayerische Motoren Werke AG and life insurer Just Group Plc are among six borrowers selling pound bonds on Wednesday, as issuers rush to lock in financing before potential market upheavals around the looming Brexit deadline.
The deluge will push sterling sales for the month above 16 billion pounds ($19.9 billion), including a gilt deal, according to data compiled by Bloomberg. That’s the highest monthly tally since January, when a then-March Brexit date turbocharged the usual start-of-the-year rush.