Bayer: E3bn bond issue

(CercleFinance.com) - Bayer AG has successfully placed new senior bonds with a total volume of E3bn on Tuesday as part of its debt issuance program.


The issue comprises three tranches and was covered approximately four times.

Bayer intends to list the bonds on the regulated market of the Luxembourg Stock Exchange. The proceeds of the issue will be used for general corporate purposes.

The three tranches, amounting to E750m, E750m and E1.5bn, have maturities of 3.25 years, 6.25 years and 10 years respectively. The coupons of the bonds are 4% per annum, 4.25% per annum and 4.625% per annum, respectively. The bonds were issued in denominations of E1,000.

The bonds are expected to be rated Baa2, BBB and BBB+ by Moody's, Standard & Poor's and Fitch, respectively.


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