Clariant places €300 mn indebtedness certificates in German market

Clariant places €300 mn indebtedness certificates in German market

4:16 AM, 28th April 2016
Clariant places €300 mn indebtedness certificates in German market

MUTTENZ, SWITZERLAND: Clariant SA has successfully placed €300 million of debt for certificates of indebtedness (Schuldschein) in the German market. The four certificates have terms of 4.5 years (€156.5 million with a fixed coupon and € 55.5 million with a floating coupon), 7 years (€73.5 million with a fixed coupon) and 10 years (€14.5 million with a fixed coupon).

The interest to be paid for the certificates of indebtedness is based on six-month Euribor (variable tranche) or mid-swap (fixed tranche), respectively, plus a credit margin premium (spread). Total fixed interest costs per tranche are between 1.012 percent and 2.01 percent p.a.

With the issuance of these certificates Clariant has further improved its debt maturity profile. The proceeds will be used for general corporate and refinancing purposes.

Joint arrangers of the issue were Landesbank Baden-Wurttemberg and Landesbank Hessen-Thuringen Girozentrale.

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