DSM-Firmenich Issues 1.5 Billion Euros in Long-Term Bonds
DSM-Firmenich has announced the successful launch of a 1.5 billion euro bond issue in two tranches, according to a statement released on Tuesday. This operation is part of its debt securities issuance program.
Details of the Bond Issue
The bond issue includes two tranches: a 5-year tranche and a 12-year tranche. The bonds are issued by DSM B.V. and guaranteed by DSM-Firmenich AG under the previously established counter-guarantee structure. The proceeds from this issue are intended for the refinancing of existing bond maturities. This operation is part of DSM-Firmenich's 8 billion euro debt issuance program.
Pricing and Yield Information
The 5-year tranche was offered at a price of 99.886%, yielding 3.025%. The 12-year tranche was offered at a price of 99.100%, corresponding to a yield of 3.845%. The bonds will be listed on the Luxembourg Stock Exchange. DSM-Firmenich AG holds a credit rating of A3 with a stable outlook from Moody's and an A- with a stable outlook from S&P.
