Merck bags Eu3.2bn with ease as wait ends for M&A bonds

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Merck bags Eu3.2bn with ease as wait ends for M&A bonds

Issue: 1146 - 19 March 2010

Merck KGaA drew orders of almost Eu26bn for a Eu3.2bn acquisition-related bond this week. While the issue grabbed investors’ attention as the first M&A-driven bond to hit Europe this year, the deal’s pricing also came under scrutiny as retail buyers, once again piling into a booming corporate bond market, drove the price tighter. ..

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