US automotive group makes European high yield debut

Lear, the US automotive group, is to make its first appearance in the European high yield bond market in the next two weeks with a deal worth up to €300m ($274.6m).

Deutsche Bank and Schroder Salomon Smith Barney are managing the issue. A market official close to the deal said that the bond would have a seven-year maturity and would price on or around March 12.

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