- Source : Press Release
- Date : 2021-01-07
- Companies : Bayer AG
Bayer Issues New Senior Bonds with a Volume of 4 Billion Euros
Leverkusen, January 7, 2021 – Bayer AG on Thursday successfully placed senior bonds with a total volume of 4 billion euros. The issuance comprises four tranches and exclusively targets institutional investors. The bonds were about three times oversubscribed. Bayer intends to list the Euro bonds on the Regulated Market of the Luxembourg Stock Exchange. The proceeds are to be used for general corporate purposes, including refinancing of existing indebtedness.
The four tranches with volumes between 0.8 and 1.2 billion euros have maturities of 4 years, 8 years, 10.5 years and 15 years. The coupons on the notes are 0.050 percent p. a., 0.375 percent p. a., 0.625 percent p. a. and 1.000 percent p. a. respectively.
The notes are expected to be rated Baa1, BBB and BBB by Moody’s, Standard & Poor’s and Fitch respectively.
“The high level of oversubscription and strong investor demand for our new bonds also reflect the capital markets’ confidence in Bayer’s development,” said Bayer CFO Wolfgang Nickl.
Barclays, HSBC and Santander led the transaction as active joint bookrunners and co-ordinating banks.
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of 43.5 billion euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3 billion euros. For more information, go to www.bayer.com
This release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.
This release is an advertisement for the purposes of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and underlying legislation. The prospectus relating to the securities described herein, when published, will be available on the website of the Luxembourg Stock Exchange (www.bourse.lu).
An investment decision regarding the securities should only be made on the basis of the prospectus.
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
This announcement does not constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state within the U.S., and may not be offered or sold in the United States absent registration or an applicable exemption from registration or in a transaction not subject to the registration requirements of the Securities Act. There will be no offering of the securities in the United States. This release and the information contained herein may not be distributed or sent into the United States, or in any other jurisdiction in which offers or sales of the securities described herein would be prohibited by applicable laws and should not be distributed to publications with a general circulation in the United States. The securities are being offered and sold outside the United States only in reliance on Regulation S under the Securities Act.
In the United Kingdom, this announcement is only being distributed to and is only directed at (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (ii) high net worth entities falling within Article 49(2) of the Order and (iii) persons to whom it would otherwise be lawful to distribute it (all such persons together being referred to as "relevant persons"). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this announcement or any of its contents.