LANXESS successfully issues €500 million benchmark bond
- Issue of a five-year €500 million benchmark bond with a coupon of 4.375%
- Long-term financing secured on attractive terms
- Firm commitment to a return to solid investment-grade metrics as soon as possible
Specialty chemicals company LANXESS has successfully issued a new five-year euro benchmark bond with a coupon of 4.375%. In the process the order book was oversubscribed several times. The proceeds will be used for general corporate purposes and to refinance a €500 million bond maturing in October 2026.
“Strong demand for our bond demonstrates that LANXESS continues to enjoy reliable access to the capital market, even in a challenging industry environment. By issuing this bond, we are securing long-term refinancing and further strengthen our solid financing profile. We remain firmly committed to our clear objective of returning to solid investment-grade metrics as soon as possible,” said Oliver Stratmann, Chief Financial Officer of LANXESS AG.
LANXESS is currently rated Ba1 with a negative outlook by Moody’s and BBB with a negative outlook by Scope Ratings. The banking consortium mandated to place the bond was led by J.P. Morgan as sole global coordinator, acting together with Barclays, Bank of America Securities, Citigroup, DZ Bank and Société Générale as joint bookrunners.
Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.
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