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Clifford Chance says it advised banks on Bayer’s €2 billion hybrid bond issue
Clifford Chance said it advised a banking consortium on Bayer’s €2 billion hybrid bond issue, divided into two tranches. The firm said BofA Securities and Deutsche Bank acted as global coordinators and active bookrunners, with four additional banks also serving as active bookrunners.
Key points
- Clifford Chance said both tranches mature in 2056.Clifford Chance
- The firm said the first tranche has a 5.750% initial coupon and is first callable in 2032.Clifford Chance
- Clifford Chance said the second tranche has a 6.250% initial coupon and is first callable in 2035.Clifford Chance
- The firm said the bonds trade on the Luxembourg Stock Exchange’s regulated market and were sold to institutional investors.Clifford Chance
- Clifford Chance said Cristina Freudenberger led its Frankfurt team.Clifford Chance