(Bloomberg) -- Germany’s BayWa AG scrapped a euro bond sale Monday, just weeks before one of its existing notes in the currency will mature.

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The issuer, which provides trading and logistics services in the agriculture, building and energy industries, had offered €250 million ($266 million) of five-year notes at a yield of around 6.75%, according to a person with knowledge of the matter, who asked not to be identified as the information is private. Orders were last said to have topped €210 million however, and BayWa was unable to reduce the yield on offer during the book-building process.

The decision not to proceed with the offering comes just two weeks before BayWa can call an existing €500 million note at par, according to data compiled by Bloomberg. The notes’ final maturity date is June 26.

A BayWa spokesperson wasn’t immediately available for comment when contacted by Bloomberg News via telephone and email.

In an investor presentation for its bond sale seen by Bloomberg, the company said it has a “balanced and diversified funding profile” and “no dependency on single lending sources.” When its new bond sale was first mandated last week, the termsheet accompanying the sale said proceeds would “be used for general corporate purposes, including the refinancing of existing debt.”

The scrapped offering is the first in Europe’s publicly-syndicated debt market since March 20, when Equinix Inc. and Raiffeisen Bank International AG both opted out of proceeding with deals. Equinix cited a short-seller report for its decision to stand down, while Raiffeisen delayed the sale of AT1 securities after a report cast doubt on its plan to repatriate profits from its Russian unit.

Click here for a worksheet of delayed/pulled transactions this year

--With assistance from Colin Keatinge.

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