Bayer AG Closes €4 Billion Mandatory Convertible Notes and Concurrent Accelerated Delta PlacementNovember 22, 2016
S&C represented Bayer AG in its €4.0 billion mandatory convertible notes and concurrent accelerated delta placement, which launched on November 15 and closed on November 22.
Distinguishing attributes of the offering include:
- Largest-ever EMEA mandatory convertible bond
- Largest EMEA equity-linked issuance since 2004, and second-largest EMEA equity linked issuance ever
- Third-largest global mandatory convertible bond offering
- Largest EMEA accelerated equity deal since January 2015
- Fifth-largest EMEA accelerated equity deal ever