Brenntag (WKN A1DAHH), the global market leader in chemical distribution, successfully placed a new EUR 600 million corporate bond with institutional investors today. Brenntag Finance B.V. will issue the eight-year bond bearing a coupon of 1.125%. The bond issue is priced at 99.227%. The offering met with considerable interest and was several times oversubscribed.
Georg Müller, Chief Financial Officer of Brenntag AG, said, “We have taken advantage of the currently attractive market conditions to secure long-term funding at an extremely low interest rate. The strong level of investor interest in the transaction shows once again that our company is highly attractive to the capital market. Following the successful refinancing of our syndicated loan at the beginning of the year, the new corporate bond further improves our maturity profile and supports the Group’s future business development.”
Brenntag will use the proceeds of the bond issue to repay existing financial liabilities and fund the Group’s general business development. It plans to list the bond on the Luxembourg Stock Exchange Euro MTF market.