17.09.2009

LANXESS successfully places EUR 200 million bond

 

• Seven year term until September 2016
• Coupon of 5.5 % p.a.

Leverkusen - The specialty chemicals company LANXESS has successfully placed a Eurobond in the market as part of its strategy to extend its maturity profile and further improve its financial position. The issue has a volume of EUR 200 million and a seven year term until September 2016. The bond, issued under the company’s debt issuance program, has a 5.5 percent coupon and will be listed on the Luxembourg stock exchange.

 

The order book was oversubscribed and closed within one hour, with orders amounting to over EUR 1.7 billion from more than 170 investors. “The strong demand for this transaction underlines LANXESS’ solid financial reputation in the capital market,” said Matthias Zachert, Chief Financial Officer of LANXESS.

 

A consortium of BofA Merrill Lynch, Commerzbank and UniCredit Group (HVB) has been mandated with the issuance of the new bond. LANXESS is rated BBB (stable outlook) by Standard & Poor’s and Baa2 (stable outlook) by Moody’s.

LANXESS is a leader in specialty chemicals with sales in 2008 of EUR 6.58 billion and currently around 14,335 employees in 23 countries. The company is represented at 46 production sites worldwide. The core business of LANXESS is the development, manufacture and sale of plastics, rubber, intermediates and specialty chemicals.

 

Germany:  September 17, 2009

 

Information for editors:

All LANXESS news releases and accompanying photo, video and audio material can be found on http://www.lanxess.cn. 

 

You can find further information concerning LANXESS chemistry in our WebMagazine on http://webmagazine.lanxess.com.