Medtronic makes six tranche debut for €7bn in sweltering market
A chilly east wind may be reminding Londoners it’s only March, but an unseasonal summer continues to blaze in the corporate bond market. Medtronic, the US-Irish maker of high tech medical devices, made its debut in the currency today with a six tranche extravaganza that attracted over €30bn of demand.
All its tranches began trading bid about 2bp tighter than reoffer in the grey market, according to a banker away from the deal, except the 12 year tranche, which was 1bp tighter.Bank of America Merrill Lynch and Barclays were bookrunners, bringing to fruition a roadshow they had ...
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