GM, Severn Trent Seize on Risk-on Mood With Surprise Bonds

General Motors Financial Co Inc. and UK utility Severn Trent seized on a rally in European markets to sell impromptu euro debt offerings.

General Motors priced €600 million ($698 million) of four-year notes on Monday, while Severn Trent Utilities Finance Plc raised €700 million of 12-year sustainable debt, according to two separate people with knowledge of the offerings. Investors bid for more than six times the size of General Motors’ sale, although final orders for Severn Trent’s deal more than halved from an earlier peak.