Clifford Chance has advised a banking consortium led by Barclays, Commerzbank, Merrill Lynch and Société Générale in connection with a bond issue in a total volume of EUR 2 billion by Bayer AG, Leverkusen.

The bond was launched in three tranches, namely two fixed-interest coupons and one floating rate coupon. The term of these bond tranches is between two and seven years.

The Clifford Chance team comprised partner Sebastian Maerker and associates Sven Kurzawe and Said Ashrafnia (all Banking & Capital Markets, Frankfurt).