Daimler second green doesn’t quite dazzle like debut

Daimler Mercedes car from co media gallery 575x375
By Mike Turner
04 Mar 2021

Daimler, the German car maker, sold green debt on Thursday. Though the company printed inside its conventional curve, it did not match the sort of negative concessions it achieved in its debut green outing.

Daimler, rated BBB+/BBB+, opened books on a March 2033 deal for a benchmark size at 95bp over mid-swaps.

This was roughly 20bp back of where fair value sat for a conventional deal, according to GlobalCapital calculations using Daimler’s existing curve, though a lead saw it as much as ...

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