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National Grid markets benchmark bond to secure KeySpan

UK power group National Grid is planning to sell a bond worth at least $500m (€399m) by the end of this week to provide financing for its $7.3bn acquisition of US utility KeySpan, which it agreed in February.

The company yesterday started marketing the bonds to US investors and expects to complete the roadshow in Boston today and to price the bonds by the middle of the week.

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