Siemens JV and Fortescue woo European funds
Siemens Enterprise Communications, a joint venture partly owned by the German engineering group, has started the roadshow for a Eu200m high yield deal. The company is raising funds to repay bank debt — a common theme among recent German issuers. Meanwhile Australian miner Fortescue is tapping investors globally for a $2bn deal, meeting European investors this week as it looks to raise funds for growth. Siemens and Fortescue add diversity to Europe’s high yield market, but can they repeat the success of recent deals? Read EuroWeek on Friday.
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