Friday, 14 October 2011 12:00

Clariant AG : Clariant successfully places EUR 365 million of certificates of indebtedness

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Clariant, a world leader in specialty chemicals, announced that the issuance of totally EUR 365 million in the German market for certificates of indebtedness ("Schuldschein"). The four certificates have a term of 3 years (EUR 242 million) respectively 4.5 years (EUR 123 million) each with fix or float coupons.

               

The interest to be paid for the certificates of indebtedness is based on six months Euribor (variable tranche) or mid-swap (fixed tranche), respectively, plus a credit margin premium (spread). Total interest costs per tranche are between 3.85% and 4.35% p.a. at present.

 

Following the emission of two Swiss franc bonds since May of 2011 - CHF 200 million maturing in 2015 and CHF 100 million maturing in 2017 - Clariant has further improved its maturity profile with the emission of these certificates. The proceeds are for general corporate purposes, specifically for the optimization of both debt financing structure and maturity profile.

 

Joint arrangers of the very successful issue were Bayern LB and LB Hessen-Thüringen.

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