Siemens set for fifth largest bond sale of 2017 ahead of Fed meeting

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There remain only a few days for companies to tap bond markets before the Fed’s hotly anticipated March meeting, an event that has opened the floodgates.

A deluge of companies have issued debt so far this week, with Siemens — Europe’s largest industrial group — poised to complete the fifth largest corporate bond sale of the year on Tuesday.

Siemens was finalising plans to borrow $7.5bn, according to two investors following the bond sale. Order books for the transaction eclipsed $13bn as fund managers sought out a slice of the seven tranche sale.

The new Siemens debt, which will span three- to 30-year maturities, has been marketed alongside a flurry of deals this week. Great Plains Energy, a Midwest electricity provider, sold $4.3bn of debt on Monday, next to a $2bn borrowing from McDonald’s and $5bn bond sale from HSBC.

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