Caterpillar immune to volatility, sells €450m FRN at tight NIP

By Jon Hay
22 May 2014

Caterpillar, the US maker of mining and earthmoving machinery, made one of its regular visits to the euro market on Monday with a long three year FRN via Royal Bank of Scotland and Société Générale.

It was an unappealing day in the market, but Caterpillar went ahead anyway. “It’s a pretty good name,” said a banker at one of the leads. “If you can pick a name that’s immune to market conditions, it’s probably Caterpillar, especially when you are doing a ...

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