Not for release, publication or distribution in the United States, Australia, Canada or Japan.
- Tenor of seven years, coupon of 1.875 percent
- Clear improvement in maturity profile
Essen. Evonik Industries AG, one of the world's leading specialty chemicals companies, successfully placed a bond with a nominal value of €500 million on the debt capital market today. This seven-year bond, which is denominated in units of €1,000, carries a fixed-rate coupon of 1.875 percent. The issue yield is 2.001 percent. With a credit spread of just 0.75 percent above the corresponding reference rate, Evonik is benefiting from its very good credit profile and the currently very favorable market environment for corporate bonds.
The bond ratings are BBB+/stable from S&P and Baa2/positive from Moody's. This is Evonik's first bond issue since 2009. Together with available liquidity, the proceeds from the issue are intended to be used to redeem the €1.1 billion Evonik-Degussa bond, which matures in December 2013.
Evonik's CFO Dr. Wolfgang Colberg comments: "The steady improvement in our credit ratings and our active communication with creditors is starting to pay off. Thanks to its seven-year maturity, this bond increases the average maturity of our bonds by more than two years as of year-end 2013, and that will strengthen our financial profile even further." The bond was placed with more than 180 German and foreign investors. Joint bookrunners were Citigroup, Commerzbank, Mitsubishi UFJ Securities and Société Générale.
This publication constitutes neither an offer to sell nor a solicitation of an offer to buy securities. In particular, this document constitutes neither an offer to sell nor a solicitation of an offer to purchase securities in the United States. The securities of Evonik Industries AG described above (the "Securities") may not be offered or sold in the United States or to or for the account or benefit of "U.S. persons" (as such term is defined in Regulation S under the U. S. Securities Act of 1933, as amended (the "Securities Act")) absent registration or an exemption from registration under the Securities Act. The Securities have not been and will not be registered under the Securities Act or the securities laws of any State of the United States. There will be no public offering of the Securities in the United States.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.
Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2012 more than 33,000 employees generated sales of around €13.6 billion and an operating profit (adjusted EBITDA) of about €2.6 billion.