Nestlé wakes sleepy Eurodollars for $650m

By Jon Hay
07 May 2014

The Eurodollar bond market is misty and unreliable terrain, but the expert navigator is Nestlé. The Swiss foods group proved its sure command of the territory on Wednesday with a $650m issue – the first in the market for about eight months.

BP explored bringing a Eurodollar issue in September, but did not do so. One banker said that deal’s failure to fly might have made other issuers and banks nervous about the market. But a banker who worked on BP’s deal said: “It was two days before Verizon [issued ...

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