Corporate public bonds may be shut, but BMW prolific in MTNs

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By Lewis McLellan, Ross Lancaster
22 Jan 2016

In a week virtually devoid of corporate bond issuance in Europe, BMW came out on Thursday with five privately placed floaters, including one €600m two year deal.

“Private placements have formed an increasingly important part of BMW’s funding strategy in recent years,” said a banker close to one of the deals. “This is something we are seeing throughout the German autos sector.”

The simplicity of the process, compared to public deals potentially involving hundreds of ...

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