AkzoNobel announced today that the company has launched a €750 million euro bond at attractive terms, with a ten year maturity, at a coupon of 2.625 percent. The announcement of the bond was well received by the market with an order book exceeding €7 billion.
new bond issue will improve the overall debt profile of AkzoNobel, further reducing future refinancing risk and improving its maturity profile.
new bonds will be issued by Akzo Nobel Sweden Finance AB (publ) and will be listed on the Luxembourg Stock Exchange. Settlement is scheduled for 27 July, 2012, and the bonds will mature on 27 July, 2022.
is committed to maintaining a strong investment grade rating. Currently the company has a BBB+ rating with Standard & Poor’s and a Baa1 rating with Moody’s.