Brenntag successfully prices corporate bond
Brenntag (WKN A1DAHH), the global market leader in chemical distribution, today successfully priced a EUR 400 million corporate bond to be issued by Brenntag Finance B.V. on July 19, 2011. The seven year bond (ISIN XS0645941419) bears a coupon of 5.50 percent; issue price will be at 99.321 percent. The offering of the bond created substantial demand among investors and was several times oversubscribed.
“The high interest of investors once again proves their confidence and trust in our highly resilient business model. With this bond we diversify Brenntag’s funding structure and further improve the average maturity of our debt profile and financial flexibility”, says Jürgen Buchsteiner, CFO of Brenntag Group.
Brenntag will use the proceeds from the offering of the bonds to replace existing debt and to finance the Group’s general business development. The listing of the bonds is planned in the Euro MTF market of the Luxembourg Stock Exchange. Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs International and UniCredit acted as Joint Bookrunners of the transaction.
Brenntag is the global market leader in full-line chemical distribution. Linking chemical manufacturers and chemical users, Brenntag provides business-to-business distribution solutions for industrial and specialty chemicals globally. With over 10,000 products and a world-class supplier base, Brenntag offers one-stop-shop solutions to about 160,000 customers. The value-added services include just-in-time delivery, product mixing, formulation, repackaging, inventory management, drum return handling as well as extensive technical support. Headquartered in Mülheim an der Ruhr, Germany, the company operates a global network with more than 400 locations in nearly 70 countries. In 2010 the company realized global sales of EUR 7.6 billion (USD 10.1 billion) with more than 12,000 employees.
This press release may contain forward-looking statements based on current assumptions and forecasts made by Brenntag AG and other information currently available to the company. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Brenntag AG does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.
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