Bilfinger postpones €300 million offering of five-year notes

By Paul A. Harris

Portland, Ore., Oct. 4 – Bilfinger SE postponed a €300 million offering of five-year senior notes (S&P: BB) stating it elected to await more stable market conditions, market sources said.

Pricing on the deal moved north subsequent to investor meetings, a buyside source said.

Dealers opened the book on Thursday with initial price talk in the 3¾% area, well wide of earlier discussions in the 3¼% to 3½% context, the source added.

Deutsche Bank, BNP Paribas and HSBC were the bookrunners.

The Mannheim, Germany-based civil and industrial construction engineering services provider had planned to use the proceeds to refinance debt and for general corporate purposes.

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