Clariane launches a €500M bond issue to repay two loans

A senior bond issue maturing in 2032 intended for the repayment of two loans

Clariane announced on September 7, 2026 the launch of an issue with a total nominal amount of €500M in new senior bonds denominated in euros and maturing in 2032. The completion of the transaction remains subject to market conditions.

The group states that the net proceeds from the issue, if successfully completed, would be used together with its available cash to fully repay and cancel a term loan of €350.0M as well as a real estate term loan of €150.0M, and to pay the fees and expenses related to the transaction.

The bonds are offered only outside the United States, under an applicable exemption, and are not intended for retail investors in the European Economic Area or the United Kingdom.

A €700M revolving credit line replacing existing financing

Clariane specified that it has obtained the agreement of its banking partners, subject to completion of the issue, to establish a revolving credit line of €700M intended to replace its existing financing agreement.

This line would have a maturity of five years and could serve the company's general needs, including capital expenditures and refinancing of existing financial debt excluding hybrid debt. It would include an increase option allowing the amount to be increased up to €900M.

Drawdowns would bear interest at a variable rate indexed to Euribor, plus a margin of 1.75% to 3.50% determined based on the "Wholeco" total net leverage ratio, with an adjustment mechanism linked to ESG criteria. This ratio, the sole financial covenant of the line, should be set below 7.00x until June 2027, before a gradual decrease to 6.00x from June 2029.