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Boehringer launches at long-end of Schuldschein mart

Boehringer Ingelheim, the German pharmaceutical group, has decided to tap the long end of the Schuldschein market by launching a 10 year deal. The note is understood to be the first of that tenor in 2009 and is clear sign of the market’s recovery, according to bankers.

  • 11 Jun 2009

Boehringer, which is unrated but considered to be a double-A credit, launched its Eu300m five, seven and ten year facility towards the end of last week. Respective guidance on the tranches is 190bp-215bp, 235bp-260bp and 280bp-310bp.

The deal is being led by Helaba, HSBC and LBBW.

Bankers in Germany said ...

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