Sika AG said Aug. 19 that it has placed an inaugural hybrid capital bond with a total amount of €1 billion split into two €500-million tranches. The net proceeds of the transaction will be used for general corporate purposes including financing of bolt-on acquisitions and refinancing of existing financial indebtedness, the company said.
The hybrid bonds will be listed on the regulated market of Euronext Dublin, Sika said. They were placed into the European institutional fixed income investor base with Citigroup acting as global coordinator and BofA Securities, Citigroup and UBS Investment Bank as active bookrunners, it said.
The first of €500-million hybrid bond has a coupon of 4.375% per year with a first call date on Feb. 26, 2032, and first reset date on May 26, 2032, the company said. The second €500-million hybrid bond has a coupon of 4.875% per year, with a first call date on Feb. 26, 2035, and first reset date on May 26, 2035, it said.
by Sotirios Frantzanas
Source: chemweek.com
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