Bayer scoops €2bn three-trancher in quiet market
Bayer, the German drugs, pesticides and chemicals company, launched its first substantial euro bond for four years today, raising €2bn with a three tranche issue that was priced to achieve hefty size and found strong demand.
Bankers were surprised other issuers were not taking advantage of a very favourable market for corporate new issues, and said blackout periods were not to blame, as many issuers still had a week or two to issue before they went into results closed period.
Bayer, rated A3/A-, has
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