Marks & Spencer (M&S), the UK retailer, has successfully completed a debt issue targeting investors across Europe that could have been almost doubled in size, according to syndicate bankers working on the deal.

M&S sold €550m ($491m) worth of euro-denominated bonds with a maturity of five years, in a deal run by Morgan Stanley and Deutsche Bank. M&S and its bankers launched the bond sale on Wednesday morning and priced mid-morning on Thursday.