AkzoNobel announced today that the company has launched a EUR750 million euro bond at attractive terms, with a ten year maturity, at a coupon of 2.625 percent. The announcement of the bond was well received by the market with an order book exceeding EUR7 billion.
The new bond issue will improve the overall debt profile of AkzoNobel, further reducing future refinancing risk and improving its maturity profile.
The new bonds will be issued by Akzo Nobel Sweden Finance AB (publ) and will be listed on the Luxembourg Stock Exchange. Settlement is scheduled for 27 July, 2012, and the bonds will mature on 27 July, 2022.
AkzoNobel is committed to maintaining a strong investment grade rating. Currently the company has a BBB+ rating with Standard & Poor's and a Baa1 rating with Moody's.
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Note to editors
AkzoNobel is the largest global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 55,000 people around the world are committed to excellence and delivering Tomorrow's Answers Today(TM).
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Source: Akzo Nobel NV via Thomson Reuters ONE