SAP breaks deal standstill
German software company SAP has hired Barclays Capital and Deutsche Bank to sell a bond offering in euros. The deal is expected to be linked to the borrower’s recently obtained Eu2.75bn acquisition facility. Although unrated, SAP has proved that it has the clout to pull off big bond issues, such as its Eu1bn debut deal in April. Read EuroWeek on Friday to find out what this deal will mean for a loan market starved of syndications.
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