Voith tap keeps euro spark alive
German industrial machinery group Voith has retuned to the bond market for the first time in two years with a Eu300m tap of a 2017 deal that is keeping the Eurobond market ticking over in a quiet August lull. Commerzbank, Royal Bank of Scotland and UniCredit are leading the eight year deal, which is expected to price at 320bp over mid-swaps this afternoon. The original Eu300m issue from the Baa1 rated firm priced in June 2007 at 50bp over mid-swaps. To find out how investors react to the tap, read EuroWeek on Friday.
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