AkzoNobel successfully launches €750 million bond issue

AkzoNobel successfully launches €750 million bond issue

7:49 AM, 24th July 2012
AkzoNobel successfully launches €750 million bond issue

AMSTERDAM, THE NETHERLANDS: AkzoNobel has launched a €750 million bond at attractive terms, with a ten year maturity, at a coupon of 2.625 per cent. The announcement of the bond was well received by the market with an order book exceeding €7 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 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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