Euro investment grade (corporate) deal of the year – Merck KGaA

Euro investment grade (corporate) deal of the year – Merck KGaA


Issuer: Merck Financial Services
Guarantor: Merck KGaA
Size of deal: €3.2 billion
Date of issue: March 17, 2010
Ratings: A3/BBB+ (Moody’s/S&P)
Coupon: 2.125% (2012 tranche);
3.375% (2015); 4.5% (2020)
Tranche size: €500 million;
€1.35 billion; €1.35 billion
Issue yield: 2.241%; 3.426%; 4.553%

The March 17 issue by Germany’s Merck was the largest corporate Eurobond of 2010 to date, and within 90 minutes of opening was more than eight times oversubscribed. The pharmaceuticals and chemicals company origi

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: