October 31, 2014
AkzoNobel today announced that the company has launched a €500 million bond at attractive terms, with a ten-year maturity, at a coupon of 1.75 percent.
The new bond issue extends the duration of the overall bond portfolio, taking advantage of favorable market conditions and historically low interest rates.
The new bonds will be issued by Akzo Nobel N.V. and will be listed on the Luxembourg Stock Exchange. Settlement is scheduled for November 7, 2014, and the bonds will mature on November 7, 2024.
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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AkzoNobel is a leading global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well-known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 50,000 people around the world are committed to delivering leading products and technologies to meet the growing demands of our fast-changing world.
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Source: Akzo Nobel NV via Globenewswire
