Colgate leaves fresh taste as issuers line up

Colgate_PA_230x150
By Mike Turner
04 Nov 2019

The US’s Colgate Palmolive brought a €1bn dual tranche bond on Monday, in a deal that bankers reckon is the 'tip of the iceberg' of euro issuance this week.

Colgate Palmolive, rated Aa3/AA-, announced a €1bn no grow trade first thing, split equally between two and 20 year tranches.

The 2021 tranche came with initial price thoughts of mid-swaps plus 40bp area, while the 2039 came at plus 80bp to 85bp.

Guidance was refined by late morning to mid-swaps ...

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