Bayer: refinances debt with 4 billion euro bond sale

(CercleFinance.com) - Bayer has raised 4 billion euros through its latest bond issue, the proceeds of which will be used to refinance its existing debt.


The four-part deal, which exclusively targeted institutional investors, was about three times oversubscribed to, the German chemical and drug giant said in a statement.

"The high level of oversubscription and strong investor demand for our new bonds also reflect the capital markets' confidence in Bayer's development,” said Bayer's CFO Wolfgang Nickl.

The four tranches have maturities of between four and 15 years, with coupons between 0.05% and 1% per annum.

Barclays, HSBC and Santander were the lead banks in this issue.

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