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Demand soars for DaimlerChrysler bonds

DaimlerChrysler has used strong third-quarter results as a springboard for a two-part €1.62bn ($1.97bn) bond. Strong investor appetite allowed the car maker to increase the size of the deal and reduce the yield.

BNP Paribas, Commerzbank and Royal Bank of Scotland led a €1bn five-year tranche; ABN Amro, Bank of America and Citigroup arranged a $750m three-year bond.

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