Clariant successfully places CHF 375 million domestic bonds in two tranches
Muttenz, 27. August 2012 – The Swiss specialty chemicals group Clariant announced today the issuance of CHF 375 million domestic bonds in two tranches.
The first bond issued (CHF 215 million) has a coupon of 2 ½ percent p.a. and a tenor of six years. The second bond issued (CHF 160 million) has a coupon of 3 ½ percent p.a. and a tenor of ten years. The issuer is Clariant AG.
The proceeds are for general corporate purposes and are part of Clariant’s strategy to further extend the maturity profile beyond 2018 while maintaining a very solid liquidity profile. The issue was very well received by Swiss investors, underlining their confidence in the credit quality of Clariant. After three placements in 2011 and 2012, the company’s presence in the Swiss domestic capital market is further strengthened. Settlement is expected to happen on September 26, 2012.
Clariant's current long-term ratings are “BBB-“, “outlook negative” at Standard & Poor's, and “Ba1”, “outlook stable” by Moody's.