Nestlé sells third eurodollar of 2017
In recent months Swiss food group Nestlé has extended its euro corporate bond curve with some of its largest ever deals after it started a Sfr20bn share buy-back in July. But the issuer has not forgotten its eurodollar investors and on Thursday printed its third deal of 2017 in the format.
The issuer’s last four eurodollar deals, dating back to July 2016, have had five year tenors and the latest deal was no different. Lead managers Credit Suisse, Deutsche Bank, RBC Capital Markets and TD Securities launched the benchmark deal with initial price thoughts of high 40bp over mid-swaps.
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