Baxter picks euros again after long bond gap

By Alex Radford
13 May 2019

Baxter International, the US medical equipment company, chose the euro market on Friday for its first bond issue of any kind for two years. The €1.5bn deal followed another euro issue in 2017. Not since 2016 has Baxter issued in dollars.

The Baa1/A-/A- rated issuer chose Bank of America Merrill Lynch, Barclays, Citigroup and UBS to lead its five and 10 year issues on Friday May 10.

Baxter's last deal had been a €600m eight year, maturing in May 2025.
Initial price thoughts were 70bp and 110bp over mid-swaps. By guidance ...

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