The completion of the recent Tender Offer and the tap transaction allows AkzoNobel to extend its debt maturity profile. The tap issue was placed with a high quality investor base and was priced at a low premium compared to the trading level of the original bond issue.
Settlement date of the transaction is set at December 10, 2009. AkzoNobel is rated BBB+, negative outlook by Standard & Poors and Baa1 negative outlook by Moody's. Citi, Deutsche Bank and the Royal Bank of Scotland acted as joint lead managers for this issue.