Tesco, the UK supermarket chain, has attracted high demand for its second benchmark bond in euros, as fixed income investors took the opportunity to buy into a highly-rated and rare credit.

The €1.7bn ($1.7bn) equivalent bond, which was launched on Tuesday, comprised three long-term sterling-denominated tranches worth £600m and a €750m tranche that was the UK company's first fully marketed - and only its second ever public - transaction in euros.