AkzoNobel successfully issues 750 million euros in bonds
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Last Update: 2020-04-13
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Source: Internet
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Author: User
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recently, AkzoNobel announced that it would issue 750 million euros of bonds on attractive terms with a 10-year maturity and a coupon of 1.625 percentthis bond issue (officially launched on April 7, 2020) to take advantage of favorable market conditions to extend the duration of AkzoNobel's overall bond portfolioThe bond will be issued by AkzoNobel and will be listed on the Luxembourg Stock ExchangeThe settlement date is April 14, 2020 and the bond maturity is April 14, 2030AkzoNobel's balance sheet is solid and cash is in good shapeNet cash and cash equivalents as at 31 December 2019 were EUR 1.2 billion, with financial leverage at 0.7 times net debt/interest, tax, depreciation and amortisation profitThe company has an unused revolving credit line of 1.3 billion euros, with an maturity date of 2025The next maturity date for the bond is 750 million euros in July 2022AkzoNobel is committed to maintaining a strong investment-grade credit rating
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