AkzoNobel announces that it has launched a €500 million floating rate note (FRN) at attractive terms, with a two-year maturity.
Akzo Nobel N.V. (AKZA; AKZOY)
The new issue allows AkzoNobel to take advantage of favorable market conditions and low interest rates while strengthening its liquidity position. Proceeds of the notes will be used for general corporate purposes.
The issue will be listed on the Luxembourg Stock Exchange. Settlement is scheduled for November 10, 2017, and the notes will mature on November 8, 2019.
AkzoNobel is committed to maintaining a strong investment grade rating. Currently, the company has an A- rating with Standard & Poor's and a Baa1 rating with Moody's.
This is a public announcement by Akzo Nobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities.