The specialty chemicals Group ALTANA has successfully issued a German Schuldschein with a volume of €150 million. The transaction was placed with about 100 banks, savings banks and institutional investors, and was four times oversubscribed. In view of the strong demand the loan amount was raised from €100 million to a total of €150 million within the framework of the securing process. The Schuldschein is divided into two tranches, with a maturity of four and six years.
ALTANA has issued a Schuldschein for the first time. It strengthens the company's long-term financing capacities and will be used to partially refinance a syndicated credit line of €400 million which, for the most part, will expire in the spring of 2013. Furthermore, the transaction enables the company to diversify its financing instruments and helps safeguard ALTANA's flexibility for further growth.
Both tranches are partially furnished with a variable interest and partially with a fixed interest rate. Due to the great level of interest in this transaction, the interest rate was set at the lower end of the marketing range. The fixed-interest rate is set at an average of 2.78 % per year. The issue was arranged by the two accompanying banks HSBC Trinkaus and Landesbank Baden-Württemberg.
ALTANA AG's Annual Press Conference will take place on March 21, 2012. The Management Board will report in detail on the company's annual financial state-ments at 11 a.m. (local time, CET) in the headquarters of ALTANA in Wesel.
This press release contains forward-looking statements,
i.e. current estimates or expectations of future events or
future results. These statements are based on beliefs of
ALTANA as well as assumptions made by and information
currently available to ALTANA. Forward-looking statements
speak only as of the date they are made. ALTANA does not
intend, and does not assume any obligation, to update
forward-looking statements to reflect facts, circumstances
or events that have occurred or changed after such
statements have been made.
About ALTANA:
ALTANA develops and produces high-quality, innovative
products in the specialty chemicals business. The ALTANA
Group, with headquarters in Wesel/Germany, is a genuine
"global player" with about 85% of its sales generated by
international activities. The ALTANA Group has four
divisions: BYK Additives & Instruments, ECKART Effect
Pigments, ELANTAS Electrical Insulation, and ACTEGA
Coatings & Sealants. All of these divisions occupy a
leading position in their target markets with respect to
quality, product solution expertise, innovation and
service.
ALTANA offers innovative, environmentally compatible
solutions with the matching specialty products for coating
manufactures, paint and plastics processors, the printing
and cosmetic industries, and the electrical and electronics
industry. The product range includes additives, special
coatings and adhesives, effect pigments, sealants and
compounds, impregnating resins and varnishes, and testing
and measuring instruments.
At present, the ALTANA Group has 42 production facilities
and 48 service and research laboratories worldwide.
Throughout the group about 5,300 people work to ensure the
success of ALTANA worldwide. In 2010, ALTANA achieved sales
of more than 1.5 billion euros. Its impressive earning
power and high growth rate make ALTANA one of the most
successful and innovative chemical groups worldwide.