AkzoNobel announced today that the company has launched a €750 million euro bond at attractive terms, with a ten year maturity, at a coupon of 2.625 percent. The announcement of the bond was well received by the market with an order book exceeding €7 billion.
The new bond issue will improve the overall debt profile of AkzoNobel, further reducing future refinancing risk and improving its maturity profile.
The new bonds will be issued by Akzo Nobel Sweden Finance AB (publ) and will be listed on the Luxembourg Stock Exchange. Settlement is scheduled for 27 July, 2012, and the bonds will mature on 27 July, 2022.
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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Note to editors
AkzoNobel is the largest 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 55,000 people around the world are committed to excellence and delivering Tomorrow's Answers Today(TM).
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Safe Harbor Statement
This press release contains statements which address such key issues as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline, and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecasted and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business please see our latest Annual Report, a copy of which can be found on the company's corporate website www.akzonobel.com.
This announcement does not constitute an offer of securities for sale in the United States or any other jurisdiction. The securities described herein and therein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or under any relevant securities laws of any state of the United States of America, and may not be offered or sold to U.S. persons or to persons within the United States of America, except pursuant to an exemption from the Securities Act.
