Brenntag (ISIN DE000A1DAHH0), the global market leader in chemicals and ingredients distribution, successfully placed two bonds totaling one billion Euro on the European Capital Market yesterday.
Brenntag Finance B.V. issued the two bonds, each EUR 500 million, with maturities of four and eight years and coupons of 3.750% and 3.875%. The issue prices of the bonds were 99.781% and 99.192%, respectively. The bonds were issued under the existing ”Debt Issuance Programme”. The offering attracted very high interest and was significantly oversubscribed. The bonds are listed on the Euro MTF market of the Luxembourg Stock Exchange.
Kristin Neumann, Chief Financial Officer of Brenntag SE, stated: “The enormous interest in the issuance once again underscores Brenntag’s attractiveness to investors. We took advantage of the good market environment to secure long-term financing for Brenntag with this largest capital market transaction to date. After the previous Eurobond transaction in 2021, we have now returned to the bond market very successfully after three years. With the proceeds from the new bonds, we are addressing upcoming debt maturities early, improving the maturity profile of our financial liabilities and supporting the business activities of Brenntag.”
The issuer ratings of Brenntag Group currently stand at BBB+ (with a ”Stable“ outlook) from Standard & Poor’s and Baa2 (with a “Stable” outlook) from Moody’s. The bonds have the same rating.
