Michelin launches 500 mln euro 30-year bond

Newswire

LONDON, Nov 26 (Reuters) - Compagnie Generale des Etablissements Michelin , Europe's biggest tyre maker, sold a 500 million euro 30-year bond at 195 basis points over swaps on Wednesday, a lead manager for the deal said. The price for the bond, which will be callable after 10 years, is at the lower end of the indicated range of 190 to 210 basis points over swaps, suggesting strong investor demand. SG CIB is the arranger and sole bookrunner on the bond, with HSBC acting as joint lead manager.

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