Nestlé keeps it short and sweet with €500m at 5bp over

10 Oct 2012

Nestlé today returned to the euro bond market for the third time since announcing its $11.85bn acquisition of Pfizer’s infant nutrition business in April. Many investors in Europe are now more hungry for spread than safety, so the €500m deal was more muted than some of Nestlé’s, but it still priced extremely tightly.

The €500m no-grow four year bond came just two days after Nestlé had sold a $500m long five year Eurodollar, but a banker at one of today’s leads said the banks had advised Nestlé that was no obstacle, as the two notes would go to different investor bases.

Bank ...

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