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AkzoNobel: 500 million euro floating rate notes launched.

(CercleFinance.com) - AkzoNobel has said that it has launched a two-year 500 million euro floating rate note (FRN), the proceeds of which will be used for "general corporate purposes.

The Dutch paints and chemicals firm said that it has taken advantage of favourable market conditions and low interest rates, as the notes were issued under "attractive terms."

The notes will mature in November 2019.

AkzoNobel said it is committed to maintain a strong investment grade rating, with it currently rated "A-" with Standard & Poor's and "Baa1" with Moody's.

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