Floating rate revival enters new territory as BMW issues €1bn

BMW
By Jon Hay
27 Mar 2014

The revival of corporate floating rate note issuance advanced in leaps this week, as deal after deal showed there was more demand than bond bankers had thought. Issuers and banks are exploring new territory, and no one has yet found the limits to what is possible.

BMW took post-crisis issuance to a new high with a €1bn three year issue on Thursday. That came a day after Anheuser-Busch InBev astonished many by issuing an €850m four year floater.

Only the day before AB InBev’s trade, Volkswagen Financial Services had opted not to use a ...

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