Paccar's €300m bond nearly three times subscribed
Paccar Financial, the leasing arm of Paccar, the US maker of DAF, Kenworth and Peterbilt trucks, braved the European market on Wednesday to print a sub-benchmark sized bond, as syndicate officials said the market could move wider.
ING, MUFG and Rabobank opened books for a €300m three year deal for the A1/A+ rated issuer at 45bp to 50bp over mid-swaps. With a book of over €850m, guidance was set at 30bp to 35bp. The deal was priced at 27bp.The euro corporate primary market has trailed ...
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