Bosch und Siemens Hausgeräte (BSH) is a rock-solid German business that has delivered strong, stable growth since it was founded almost 50 years ago by Robert Bosch and Siemens. The group specialises in household appliances, such as ovens, washing machines and freezers, and its brands, including Neff, Gaggenau and Zelmer, have come to epitomise quality and reliability.
Two years ago, BSH tapped the dim-sum market but it had never launched a Eurobond issue. In the second quarter of 2013, however, the group began to consider taking the Euro-plunge. “We started thinking about a Eurobond issue early last summer. We had not accessed the market before but conditions seemed highly conducive to a debut issuer. By the onset of autumn, we could not imagine the market getting any better,” says Andreas Stolzenburg, head of corporate finance at BSH.
