Invensys achieves the top grade (TT JanFeb05 p40-41)

Invensys’ seven-year high-yield bond issue in two tranches – a US$550m issue and an €475m issue - was one of the three parts of a major recapitalisation. It was commended by The Treasurer’s voters and its Deals of the Year panel for representing a successful transaction, despite being a complex and particularly large capital fundraising launched in difficult market conditions for the company.