- Successful placement underscores investors' trust in corporate strategy and financial strength
- Bond issue, with a maturity of 6.5 years, was heavily oversubscribed
- 1.25 % coupon
Symrise AG has successfully placed a bond on the European capital market. The bond, with a total volume of EUR 500 million, was heavily oversubscribed and was financed under very attractive terms. It is part of the refinancing planned for the current financial year and will replace the euro bond due in July.
Olaf Klinger, CFO of Symrise AG, said: "We are pleased to report the successful placement of our third bond, which was very positively received by investors. We have succeeded in raising EUR 500 million at attractive terms and in a very short time. We see the strong demand as a confirmation of our strategy and trust in Symrise."
The new Eurobond issue has a 6.5-years maturity and a coupon of 1.25 %. A bank syndicate made up of BNP Paribas, Bank of Tokyo Mitsubishi, SEB and Unicredit supported the placement. The bond will be admitted for trading on the regulated market at the Luxembourg Stock Exchange in EUR 1,000 increments (DE000SYM7720).
The bond placement marks the fourth successful capital measure by the group this year. It was preceded by steps to finance the planned acquisition of the US-American ADF/IDF. In February Symrise successfully completed a capital increase totaling EUR 400 million. This was followed in March by the issue of a EUR 250 million debenture ("Schuldscheindarlehn") and the procurement of a syndicated loan of EUR 200 million.
Symrise is a global supplier of fragrances, flavorings, cosmetic active ingredients and raw materials, as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food.
Its sales of approximately EUR 3.2 billion in the 2018 fiscal year make Symrise a leading global provider. Headquartered in Holzminden, Germany, the Group is represented with over 100 sites in Europe, Africa, the Middle East, Asia, the United States and Latin America.
Symrise works with its clients to develop new ideas and market-ready concepts for products that form an indispensable part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise - always inspiring more.
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23.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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