Syngenta returns in style

摘要

Syncenta, the world's largest crop chemicals maker, priced €750m and SFr750m of bonds last week, its first issuance in either currency in nearly five years. The Swiss company, rated A2/A+, issued a €500m 7-1/2-year fixed-rate bond offering on Monday at mid-swaps plus 40bp, coupled with €250m of 3-1/2-year floating-rate notes. One banker involved in the trade said that the company had chosen the two formats as a means of splitting its maturity profile, adding that the funds would be used for general corporate purposes.