Siemens Bonds Pull In Bumper Books Even as Energy Crunch Deepens
- Industry giant offering euro notes across four tranches
- Deal is a bellwether for investor appetite amid crunch
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Investors snapped up Siemens AG’s latest European bond market offering, showing support for the blue-chip credit even as industries and households face the worst energy crunch in decades.
The German engineering and manufacturing company garnered more than 10.2 billion euros ($10.2 billion) of bids for the 3 billion euros deal, according to a person familiar with the matter, who asked not to be identified because they aren’t authorized to speak publicly. Bids were skewed toward the bonds maturing in March 2025, the shorter of the four tenors on offer, the person said.