Bayer seeks €1.5bn for chemicals deal

Bayer, the German chemicals group, is set to launch a minimum €1.5bn ($1.93) bond next week to help finance its €16.3bn acquisition of local rival Schering.

Credit Suisse and Citigroup arranged two loans of €7bn each to finance the acquisition. Bayer said yesterday that one of those loans had been syndicated out to a wider group of banks.

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