Koninklijke DSM prices close to A rated peers
Koninklijke DSM, the Dutch life and materials sciences group, returned to the euro market after a four year absence today with a €300m six year issue that enjoyed the tight pricing open at the moment to high grade issuers.
DSM (originally Dutch State Mines) is rated A3 (positive)/A (stable) and is fully floated on the Amsterdam stock exchange. Yesterday it announced third quarter results showing net sales of €7.2bn for 2013 so far, 6% up on the year-ago figure, while Ebitda grew 15% to €1bn.
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