German engineering company Siemens has set the size of a planned dual-tranche bond at a total of €4 billion ($5.2 billion), IFR reported.
A four-year tranche and an eight-year tranche have each been set at €2 billion, said IFR Markets, a Thomson Reuters online news and market analysis service.
Guidance for the four-year tranche has been tightened to mid-swaps plus 158 basis points from around 170 basis points initially and for the eight-year tranche to mid-swaps plus 200 basis points from around 210 basis points, IFR reported.
Deutsche Bank and Royal Bank of Scotland have been named as bookrunners, with Commerzbank and UniCredit as joint lead managers for the deal. Siemens is rated AA- by Standard & Poor’s, A1 by Moody’s Investors Service and A+ by Fitch Ratings. (Reuters)