24.09.2009

LANXESS successfully improves further its financial maturity profile

Leverkusen – The specialty chemicals company LANXESS has successfully improved its financial position by extending its debt maturity profile.

Last week, LANXESS priced EUR 200 million of a new bond, maturing in September 2016.

 

Approximately half of the proceeds (EUR 98.4 million) will be used to repurchase a portion of the LANXESS Finance B.V. EUR 500 million bond due June 21, 2012, at a cash price of 102.837 percent.

 

In addition to the partial repurchase of the 2012 bond, LANXESS will repay EUR 100 million of a bank loan, due in 2011, which was originally arranged to finance the acquisition of LANXESS Elastômeros do Brazil (Petroflex).

 

Overall, LANXESS has fulfilled its goal of extending its maturity profile further from 2011 and 2012 to 2016, while the financial indebtedness remains unchanged.

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 24, 2009

 

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