Investors down Heineken’s €500m 8 year but choke on low yield 13 year
Heineken, the Dutch brewer rated Baa1/BBB+, is the kind of issuer whose bond sales are usually blowouts — indeed, one of its two euro transactions last year was voted Euro Investment Grade Corporate Deal of the Year in EuroWeek’s awards, and the other was nominated.
On Tuesday this week, it tried to repeat the stunt, with a 500m eight year and 500m 13 year issue that closely echoed its seven-and-12 and eight-and-13 year dual tranchers last year.
Heineken will probably not treasure the memory of this weeks deal in quite the same way. The
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