Clariant successfully places EUR 300 million of certificates of indebtedness
Muttenz, April 7, 2015 – Clariant, a world leader in specialty chemicals, announced today the issuance of totally EUR 300 million in the German market for certificates of indebtedness ("Schuldschein"). The four certificates have a term of 5 years (EUR 150 million) respectively 8 years (EUR 150 million) each with fix or float coupons.
The interest to be paid for the certificates of indebtedness is based on six months Euribor (variable tranche) or mid-swap (fixed tranche), respectively, plus a credit margin premium (spread). Total interest costs per tranche are between 1.1% and 1.6% p.a. at present.
Clariant has further improved its debt maturity profile with the issuance of these certificates. The proceeds are for general corporate purposes and refinancing.
Joint arrangers of the very successful issue were Bayerische Landesbank and Landesbank Baden-Württemberg.