Germany's Siemens AG said the demand for its recently issued bonds was 2.5x higher than the issue volume of €2.75 billion.
The company said the bonds generated demand of €6.8 billion, allowing it to obtain very good interest-rate conditions over all maturities. The bonds have maturities of five, nine and 12 years.
It said the average issue yield for all three maturities was 20 basis points below the initial indications at the time of price fixing. The transaction closed Sept. 6.
Siemens will use the proceeds for general corporate purposes.