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:
January 2014 bonds
March 2015 bonds
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.
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.