Bayer gets big book as euro market hots up

Bayer 230x150
By Richard Metcalf
07 Nov 2014

Bankers marvelled last week at just how eager European investors were to buy very highly rated corporate paper - as evidenced by a rarely intense period of issuance by double-A rated firms. Another high grade deal came on November 7 to reinforce those feelings: Bayer launched a €500m bond and got a €4bn book.

“It went extremely well. You can see the terms and the order book size, despite a very, very aggressive price revision,” said a banker at one of the active bookrunners, Credit Suisse, Mizuho and UniCredit.

The €500m no-grow nine year deal was arguably priced through the A3/A- rated German pharmaceuticals company's ...

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