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Bayer (BAYNGR Baa2 neg / BBB) Hybrid Refinancing Soon ?

CREDIT SUPPLY
In September, Bayer did a Tender + New Issue in Perps
  • They redeemed €1,389m and issued €1,750 = €361m excess
Upcoming Bayer perps are:
  • BAYNGR 3.75 July '24 €700m
  • BAYNGR 2.375 Feb '25 €411m

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