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2017-04-27

Early repayment of Chemtura bond by LANXESS

Specialty chemicals company LANXESS utilizes available cash and undrawn credit facilities for an early repayment of a bond of the recently acquired Chemtura Corporation. The bond amounts to 450 million US dollar with a coupon of 5.75%. Original maturity of the bond was July 2021. LANXESS makes use of contractually foreseen early redemption options of the bond at a price of 102.875% effective July 15, 2017. Additionally, bilateral credit lines and external financings of former Chemtura Corporation have been redeemed and cancelled to achieve acentralized bank and capital market financing on LANXESS group level. The LANXESS bridge credit facility, which was established for the acquisition of Chemtura, has been cancelled on the date of closing on April 21. This is an important milestone for the finance integration following the closing of the acquisition.

Forward-Looking Statements

This news release contains forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

LANXESS is a leading specialty chemicals company with sales of EUR 7.7 billion in 2016 and about 19,200 employees in 25 countries. The company is currently represented at 75 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. Through ARLANXEO, the joint venture with Saudi Aramco, LANXESS is also a leading supplier of synthetic rubber. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World) and FTSE4Good.