JEC Group have brought together the international community of composites leaders and executives in our Composites Circle as an unique networking opportunity to meet with both peers and future partners.
Transaction comprises two-year floating-rate tranche and two 750 million euros fixed-rate bonds with maturities of four and seven years
Bayer is taking advantage of currently low interest rates to raise debt capital on favorable terms. The Group successfully issued three Eurobonds with a combined volume of 2 billion euros. The proceeds will be used for general corporate purposes and possible acquisitions. All the tranches were placed on attractive terms. The 500 million euros two-year floating-rate Eurobond was issued at an interest rate of 22 basis points over three-month Euribor. The 750 million euros four-year fixed-rate Eurobond carries a coupon of 1.125%, and the 750 million euros seven-year fixed-rate Eurobond carries a coupon of 1.875%. The issuances met with exceptionally high demand on the capital market and the order book was over 4 times oversubscribed. Said Werner Baumann, CFO of Bayer AG: "The successful placement of these benchmark bonds confirms Bayer’s high standing on the capital market. We have used our strong position as an issuer and the positive market environment to improve our debt and liquidity structure." Bank of America Merrill Lynch, Barclays, Commerzbank and Société Générale arranged the transaction as active bookrunners. Credit Suisse, Morgan Stanley and UBS are passive members of the consortium.More information:www.bayer.com