Siemens, the German engineering and electronics company, is set to return to the bond market next week having mandated four banks to arrange its second multi-billion dollar debt deal in two weeks.

Citigroup, Deutsche Bank, JP Morgan and Morgan Stanley are understood to be underwriting the four-tranche $4bn (€3.1bn) private placement. It is expected to be sold to investors by the end of next week following a marketing roadshow.