John Deere Bank picks moment, prices €300m tightly
John Deere Bank, the finance arm of the US agricultural machinery group, had been waiting to bring its euro bond for almost as long as SP AusNet, which made its euro debut on Thursday. John Deere, a long-experienced euro issuer, nevertheless believes in marketing thoroughly, and roadshowed in Europe from June 18.
But although it wanted to do the deal before it goes into blackout later this month, the issuer was in no hurry, and sat out the ensuing weeks of volatility, waiting for the right window — meaning a tightening market.
On Monday evening, after a sunny day’s trading
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