Baxter picks euros again after long bond gap

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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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