Solvay places bonds for an aggregate nominal amount of €600 million
Solvay announces today that Solvay SA placed senior fixed rate bonds for an aggregate nominal amount of €600 million paying a coupon of 0.5% and having its maturity date in September 2029. The notes are expected to be listed and admitted to trading on the regulated market of the Luxembourg Stock Exchange with ISIN BE6315847804.
Meanwhile, Solvay Finance (America), LLC announces its intention to redeem its outstanding US$800 million 3.400% notes due 2020 (CUSIP No. US8344PAA7 (Regulation S Notes) and 834423AA3 (Rule 144A Notes) / ISIN USU8344PAA76 (Regulation S Notes) and US834423AA33 (Rule 144A Notes)) on 30 September 2019.
“These transactions will together contribute to an extension of the average maturity of our debt and to reduce our funding costs, benefiting from constructive market conditions. As such, they bear testimony to our continued focus on ensuring a prudent and cost effective capital structure as an integral part of our value creation strategy” said Karim Hajjar, Solvay’s Chief Financial Officer.