Bayer moves $1.3 bln of securities to pension trust

FRANKFURT Wed Dec 19, 2012 9:10am EST

FRANKFURT Dec 19 (Reuters) - German drugmaker Bayer moved about 1 billion euros ($1.3 billion) in short-dated securities to its trust fund to boost investment income and set aside funds for pension obligations.

The company said on Wednesday the move would reduce net pension obligations in its accounts by about 1 billion euros from 9.7 billion at the end of September and add 1 billion euros to net debt.

It had net debt of 6.8 billion euros at the end of September.

($1 = 0.7568 euros) (Reporting by Maria Sheahan)

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