Illinois Tool Works brings back 20 year euros in €1bn strike

Illinois Tool Works testing equipment for new website
By Jon Hay
12 May 2014

Illinois Tool Works, the US maker of testing equipment, car parts, adhesives and many other products, broke a seven year absence from the euro bond market on Monday with a successful €1bn deal that included the first benchmark 20 year issue in the currency since last August.

“They did a euro bond in 2007 — since then, the euro market hasn’t looked comparable with the dollar market [in pricing] for most of that time,” said a banker at one of the leads, Goldman Sachs, JP Morgan and Société Générale. “They were looking in the seven ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial