ABB's big floater soaks up deep demand at the short end

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ABB's big floater soaks up deep demand at the short end

ABB robot arm 230x150 PA
A engineer 'programs' the robot YuMi through movements at the stand of the company ABB at Hannover trade fair in Hannover, Germany, 12 April 2015. The industrial trade fair runs from 13 April until 17 April 2015. Photo: Julian Stratenschulte/dpa | Julian Stratenschulte/DPA/PA Images

ABB, the Swiss-Swedish machinery maker, issued an unusual bond on Tuesday: an 18 month floating rate note that grew as large as €1bn.

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