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U.K. Borrowers Court Investors Willing to Put Brexit Behind Them

(Bloomberg) British companies’ increasing debt supply is attracting foreign investors willing to look past the stigma of Brexit.Non-financial corporates in the U.K. including Tesco Plc and motoring firm AA Plc have raised more than $5 billion from euro and sterling-denominated issues this year, more than double the amount offered last January, based on data compiled by Bloomberg.With the promise of a pick-up for yield-starved investors and a Brexit deal in place, U.K. firms have the chance to further boost supply of new debt and lure portfolio managers that have shunned them since the vote to leave the European Union in 2016.“Due to Brexit, many portfolios in continental Europe had an underweight on U.K. corporates,” said Eric Vanraes a portfolio manager at Eric Sturdza Investments, which oversees $2.9 billion. “Now that the uncertainty is over, we will buy into opportunities in the primary market without a lot of questions regarding Brexit.”The rel ....

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