Bayer offloads €2bn of Covestro via block, CB

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Bayer offloads €2bn of Covestro via block, CB

Aidan Gregory
June 07, 2017 06:00 PM
Bayer_PA_230x150
(dpa files) - A view of the illuminated Bayer cross, and the compound of the Bayer chemicals plant in Leverkusen, Germany, 11 March 2002. For the first time, Bayer is not liable to pay any business taxes this year. | usage worldwide | Roland Scheidemann/DPA/PA Images

Bayer monetised a large stake in Covestro, the plastics company it span off in 2015, on Tuesday night through a simultaneous block trade and exchangeable bond worth a total of €2bn, which were both covered in an hour by more than 100 investors each.

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Morgan StanleyGermanyEquityEuropeBarclaysEMEAEquity-Linked
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Aidan Gregory
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