LANXESS successfully places EUR 500 million benchmark bond
The specialty chemicals company LANXESS has successfully placed a 6-year-tenor euro benchmark bond with a coupon of 0.0 percent in the European capital market. LANXESS will use the funds to finance the planned acquisition of the microbial control business of US-based chemical company IFF.
The new bond is listed on the Luxembourg Stock Exchange in denominations of EUR 1,000.
“We have secured a first step of financing already quickly after the announcement of the acquisition of IFF Microbial Control and are happy about the very receptive reaction of the capital market to our offering,” said LANXESS Chief Financial Officer Michael Pontzen.
LANXESS' issuer ratings are currently Baa2 (Moody’s), BBB (Standard & Poor’s) and BBB+ (Scope). A bank consortium of active joint bookrunners comprising Citi, Société Générale and Unicredit was mandated to place the bond.
Information for editors:
All LANXESS news releases and their accompanying photos can be found at http://press.lanxess.com.
Recent photos of the Board of Management and other LANXESS image material are available at http://photos.lanxess.com.
You can find further information concerning LANXESS chemistry in our digital magazine “Inside LANXESS” at http://inside.lanxess.com.