Part of a comprehensive financing concept totalling €1.3bn, it boasts highly attractive conditions and will be used by Symrise to finance the largest acquisition in the company’s history over the long-term.
Due to a capital increase based on authorised capital, which was equally well received by the market, Symrise achieved proceeds from the issue of around €400m in May 2014. In June 2014, the company secured short- and medium-term borrowings from its primary banks amounting to €400m.
The bond financing has a term of five years and a coupon of 1.75%. The issuance was supported by Mitsubishi UFJ Securities International plc and UniCredit Bank AG as active book runners, together with Banco Santander, BNP Paribas, Landesbank Hessen-Thüringen and JP Morgan Securities plc.
“With the bond successfully issued, our long-term financing concept for the Diana acquisition is complete,” said CFO Bernd Hirsch. “The fact that this was achieved within a very short period of time between the purchase offer and completion is a great accomplishment of all those involved. The trust of the investors underlines the convincing logic of the transaction and a confirmation of our strategy and our financial power. Symrise will accelerate its profitable growth even more with the successful integration of Diana.”
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