Home / Knowledge / News / Textiles / Solvay launches €1.2bn hybrid bond issue
Solvay launches €1.2bn hybrid bond issue
05
Nov '13
Solvay announces that it has successfully launched a hybrid bond issue worth 1.2 billion €, to further strengthen the Groups balance sheet.

The hybrid bond issue is split across two perpetual tranches:

A first tranche of 700 million € with a first call date on May 12, 2019 and a coupon of 4.199% until this date, with a reset every 5 years thereafter.

A second tranche of 500 million € with a first call date on November 12, 2023 and a coupon of 5.425% until this date, with a reset every 5 years thereafter.

The Notes will rank junior to all senior debt and will be recorded as equity (and coupons will be recorded as dividends) pursuant to IFRS. They will also receive an intermediate equity content from S&P and Moody’s (50% of the Notes will be treated as equity).

"We are very pleased with the outcome of this transaction, which is a testimony of the market's wide recognition of the Group's successful execution of its in-depth transformation," said Karim Hajjar, Solvay's Chief Financial Officer. "This issue further strengthens Solvay's capital structure following the acquisition of Chemlogics, and maintains liquidity at cautious levels ahead of upcoming large debt maturities".

Solvay


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 23rd Oct 2021

FDRA urges US govt to remove tariffs causing kids' shoe price spikes

The Footwear Distributors and Retailers of America (FDRA) has sent...

Pic: Sorbis / Shutterstock.com

Fashion | On 23rd Oct 2021

Calvin Klein & Louis Vuitton top 2 trustworthy brands for US customers

Calvin Klein, an iconic American brand that has existed since 1968,...

Pic: Breuninger

E-commerce | On 23rd Oct 2021

Fashion retailer Breuninger to launch e-commerce portal in Poland

After Austria (2017) and Switzerland (2019), fashion company...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Always best to produce under own supervision

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Rajesh Vohra,

Rajesh Vohra

A part of the Italy based multinational company Artsana Group, Chicco is...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search