Henkel, the parent of Persil laundry detergent and Loctite glue, has placed a $600 million bond in the Eurodollar market.
The bond has a term of three years, and it set to mature on June 12, 2020. It pays a coupon of 2.0%.
Access To Capital Markets
“The successful placement of the bond reflects our excellent access to the capital markets,” said Henkel CFO Carsten Knobel.
“Following the successful bonds issue in the previous year, we once again managed to secure attractive financing conditions. As the payments have to be settled in US dollars, using the Eurodollar market offered significant financing cost benefits compared to an issue in the Euro market.”
The placement of the bond was significantly oversubscribed and attracted wide interest from international investors, the company said.
The proceeds from the issue will be used to finance the recent acquisitions by Henkel, including Darex Packaging Technologies, GCP Applied Technologies, Nattura Laboratorios and Sonderhoff-Holding GmbH.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.