13 November 2012 04:37 [Source: ICIS news]
SINGAPORE (ICIS)--German specialty chemicals group LANXESS has successfully placed a long-term eurobond on the European capital market under the company’s existing debt issuance program, the company said on Tuesday.
The issue, which was very well received by investors, has a volume of €500m ($633m) and a ten year term, it added in a news release.
The bond has a 2.625% per year coupon and will be traded in denominations of €1,000 on the ?xml:namespace>
“We are capitalizing on the positive receptivity of the fixed income market, especially for investment grade-rated corporate bonds, in order to already address our maturities in the coming years and thus secure low interest rate levels for a long period,” said Bernhard Duettmann, CFO of the company.
Joint lead managers of the issue were Bayerische Landesbank, Commerzbank, UniCredit Bank and The Royal Bank of
($1 = €0.79)
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