UPDATE 2-Head of Germany's Stada confirms car was bugged last year
* Says Stada has not proposed price to bidders in takeover tussle (Adds background on bugging incident)
LONDON, May 15 (IFR) - Bahrain-based alternative investment firm Investcorp has completed a 125 million Swiss Franc ($140.44 million) bond issue with a five year lifespan, a document from lead arrangers said on Thursday, its debut transaction denominated in the currency.
The deal, which carried a 4.75 percent coupon and priced at par for a spread of 447.5 basis points over midswaps, comes two months after Investcorp met Swiss Franc investors about issuing a potential transaction.
While Swiss investors have increasingly been willing to invest in bonds issued by borrowers from emerging markets, issues which are classified as below investment grade by rating agencies are rare.
Investcorp is rated Ba2 by Moody's, two notches below the mimimum rating for investment grade debt given by the rating agency.
Credit Suisse and Deutsche Bank arranged the bond, the document added.
Investcorp issued its debut dollar-denominated bond in October 2012, printing a $250 million bond with a five year lifespan. (Reporting By Abhinav Ramnarayan; Editing by David French)
March 29 Brokerage Cowen Group Inc's shares surged 19 percent on Wednesday after Chinese conglomerate CEFC China said it agreed to acquire a stake of about 20 percent in the U.S. company for $100 million.