(Adds details from company statement)
LONDON/FRANKFURT, Nov 27 (Reuters) - German trucks and engineering group MAN AG said on Thursday it had launched a 300 million-euro, seven-year bond, and said the offer had been more than two-and-a-half times oversubscribed.
The deal pays a coupon of 5.375 percent and was priced to yield of 125 basis points over the swaps curve, the company and lead managers Hypovereinsbank and Deutsche Bank said.
That is the lower end of the 125 to 145 basis point range indicated earlier.
The sale is smaller than some in the market had been anticipating, but MAN said in a statement it had not changed the planned volume.
"At no time did MAN AG plan to raise the volume above 300 million euros," the statement said, adding that the offer had attracted "great interest".
MAN is not rated by Moody's Investors Service, Standard & Poor's or Fitch Ratings.
The deal was the second unrated bond to launch on Thursday. Earlier in the day French department store operator Galeries Lafayette sold an unrated 300 million euro seven-year bond.
Man is currently restructuring its commercial vehicles unit, and has said the project is ahead of schedule.
Earlier this month the group said its pre-tax profit rose 26 percent in the third quarter, in line with expectations.
New orders fell to 1.24 billion euros last month from 1.4 billion euros in October a year ago, but the group said it still expected higher profits in the year as a whole.