Steel merger a plus for ThyssenKrupp bond

February 16, 2001 12:00 am

The German industrial group, ThyssenKrupp AG, will re-enter the bond markets in March with a Eu500m five year issue. Commerzbank Securities and WestLB have been awarded the mandate as joint bookrunners. The group is active in three core areas – steel, capital goods and services – and has been streamlining its portfolio after the creation of the conglomerate in March 1999. Steel accounts for over 25% of group sales and 50% of pre-tax profits.

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