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Holcim’s €500m no-grow over five times covered

30 Aug 2012

Swiss cement maker Holcim clocked up a book of more than €2.5bn for its €500m bond on Thursday. The demand was startling but was not driven by generous pricing — the no-grow eight year bond came tight, some 10bp inside guidance of 130bp over mid-swaps.

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30 Aug 2012