AkzoNobel today successfully completed a €225million tap of the company's €750 Eurobond issue which matures on March 27, 2015, which will increase the aggregate nominal amount of the bond to €975million.
The completion of the recent Tender Offer and the tap transaction allows AkzoNobel to extend its debt maturity profile. The tap issue was placed with a high quality investor base and was priced at a low premium compared to the trading level of the original bond issue.
Settlement date of the transaction is set at December 10, 2009. AkzoNobel is rated BBB+, negative outlook by Standard & Poors and Baa1 negative outlook by Moody's. Citi, Deutsche Bank and the Royal Bank of Scotland acted as joint lead managers for this issue.
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AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - 2008 revenue totaled €15.4 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 58,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today(TM).
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Corporate Media Relations, tel. +31 20 502 7833 Corporate Investor Relations, tel. +31 20 502 7854
Contact: Tim van der Zanden Contacts: Huib Wurfbain and Ivar Smits
