Fresenius is back in the high yield market — after less than three weeks. The German healthcare company will this afternoon sell €300m of 10 year bonds.
Bookrunners Deutsche Bank (billing and delivering), BNP Paribas, Credit Suisse and RBS announced this morning a €200m transaction in the mid-swaps plus 205bp-225bp area.
The senior unsecured bond is rated Ba1/BB+.
With a revision of guidance, they increased the issue to €300m and set the final yield at