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2016-11-29

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

LANXESS successfully issues first hybrid bond

Specialty chemicals company LANXESS today successfully issued a hybrid bond with a volume of EUR 500 million on the European capital market. The proceeds of the transaction are to be used for the financing of the planned acquisition of US-based chemical company Chemtura.

“The fact that the order books were multiple times oversubscribed shows that the capital market has also accepted our first hybrid bond extremely well and with an attractive coupon for LANXESS,” said Michael Pontzen, Chief Financial Officer of LANXESS AG.

The first hybrid bond ever issued by LANXESS has a term of 60 years and a coupon of 4.5 percent. It will be listed on the Luxembourg Stock Exchange in denominations of EUR 1,000 nominal value. The specialty chemicals company can exercise the first regular redemption option in June 2023. The hybrid bond is subordinate to LANXESS’ other financial liabilities.


“With the three bonds issued since September, we have quickly secured the financing for the planned acquisition of Chemtura. In line with our solid financing strategy, we were always focused on sustaining our investment-grade rating,” said Oliver Stratmann, head of Treasury and Investor Relations at LANXESS. The hybrid bond was designed in such a way that 50 percent is treated as equity by the rating agencies.


The transaction was supported by a bank consortium comprising J.P. Morgan, Barclays, Deutsche Bank and Bank of America Merrill Lynch.

Notice

This publication does not constitute a public offer of securities in Germany. It is not for publication or distribution, directly or indirectly, in or into the United States of America. This publication does not constitute an offer to sell securities, or a solicitation of an offer to buy securities, in the United States of America or in any other jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the 'Securities Act'). The securities of LANXESS AG described herein have not been and will not be registered under the Securities Act, or the laws of any State, and may not be offered or sold within the United States of America, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable State laws. LANXESS AG does not intend to register any portion of the offering in the United States of America or conduct a public offering of securities in the United States of America.

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