Petrochemical
DSM issues €1 billion bonds to finance Erber Group acquisition
The bonds come in two parts of €500 million each.
- By ICN Bureau
| June 19, 2020
Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announces the successful launch of €1 billion bonds, in two tranches: a €500m bond with an eight-year maturity due in 2028, at a coupon of 0.25%, and a €500m bond with a twelve-year maturity due in 2032, at a coupon of 0.625%.
The new bond issues take advantage of favorable market conditions and allow the company to lock in low interest rates to finance the recently announced acquisition of Erber Group.
The terms are laid down in the €5 billion Debt Issuance Program of Royal DSM, the final terms and the supplements thereto being available here.
The re-offer price for the eight-year bond tranche was 99.653%. Based on this price the yield is 0.294%. The re-offer price for the twelve-year bond tranche was 99.128%. Based on this price the yield is 0.701%. The bonds will shortly be listed on Euronext Amsterdam.
This release does not constitute an offer or an invitation to subscribe for or purchase any securities. The notes are being offered only by means of a prospectus.
Register Now to Attend E-Conference on Reimagining Chemical Manufacturing: A Digital, Sustainable, and Scalable Future on July 16 at 3:00 - 4:30 PM IST
_256_275.jpg)
.jpg)
