Re-purchase of 2014 & 2015 bonds successfully completed

AkzoNobel has today announced the results of its tender offer launched on 8 December 2011 to buy back a proportion of its bonds set to mature in January 2014 (7.75 percent, €1 billion) and March 2015 (7.25 percent, €975 million).

The tender was conducted on a public auction basis, and bonds with a total nominal amount in excess of €680 million were tendered by investors. AkzoNobel will accept bonds tendered at the most competitive level, for a total nominal amount of €528 million and a total consideration of €632.5 million. The accepted tenders are split as follows:

	Nominal Amount	Total Consideration
January 2014 bonds	€175 million	€207 million
March 2015 bonds	€353 million	€425 million
Total	€528 million	€632.5 million

The buyback of company bonds results in an accounting loss estimated at €67 million. However, this loss will be off-set by the significantly reduced coupon on the new €800 million seven year bond launched last week.

Along with the new €800 million bond issue, the re-purchase of bonds will improve the overall debt profile of AkzoNobel, further reducing future refinancing risk and improving its maturity profile.