By Paul A. Harris
Portland, Ore., June 6 – Bilfinger SE priced a €250 million issue of 4½% five-year senior notes (S&P: expected BB) at 99.453 to yield 4 5/8% on Thursday, according to market sources.
Initial price talk was in the 5% area.
Commerzbank, Deutsche Bank and HSBC were the managers.
Bilfinger returned to the primary market on Thursday after postponing a €300 million offering in October 2018, a market source recounted.
The Mannheim, Germany-based civil and industrial construction engineering services provider had been attempting to clear the market last October with five-year unsecured paper yielding 3¾%, the source added.
| Issuer: | Bilfinger SE
|
| Amount: | €250 million
|
| Tenor: | Five years
|
| Securities: | Senior notes
|
| Managers: | Commerzbank, Deutsche Bank and HSBC
|
| Coupon: | 4½%
|
| Price: | 99.453
|
| Yield: | 4 5/8%
|
| Trade date: | June 6
|
| Expected rating: | S&P: BB
|
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