BASF Coatings debt offering draws more than triple demand
Updated
Updated · Bloomberg · May 7
BASF Coatings debt offering draws more than triple demand
9 articles · Updated · Bloomberg · May 7
The €3.9 billion package attracted about €12 billion of commitments from investors in Europe and the US, increasing the euro portion of the dual-currency deal.
Strong appetite for the rare new-money financing is tightening pricing for the auto paint and finishing division of BASF SE.
The oversubscription suggests investor interest is reviving in a troubled sector after months of weak sentiment.
Why are investors pouring billions into auto paint while European carmakers face an existential crisis?
What strategic goal is Qatar pursuing by investing in a German industrial supplier amid global auto industry turmoil?