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ThyssenKrupp Issues Dual Tranche Bond
02/17/2009 - ThyssenKrupp Finance Nederland BV issues a 1500-million-Euro ‘Dual tranche’ bond documented under the company’s 3-billion-Euro Debt Issuance Programme.
ThyssenKrupp Finance Nederland BV has issued a 1,500-million-Euro “Dual tranche”-bond documented under the company’s 3-billion-Euro Debt Issuance Programme.
The bond is unconditionally and irrevocably guaranteed by ThyssenKrupp AG. Calyon Crédit Agricole CIB, Commerzbank, Deutsche Bank and Unicredit (HVB) are joint book runners.
The bond was issued in two tranches with a four-year and a seven-year maturity. The four-year tranche carries a coupon of 6.75% per annum at an issue price of 99.491%. The seven-year tranche carries a coupon of 8.50% per annum at an issue price of 99.084%.
The bond was issued in two tranches with a four-year and a seven-year maturity. The four-year tranche carries a coupon of 6.75% per annum at an issue price of 99.491%. The seven-year tranche carries a coupon of 8.50% per annum at an issue price of 99.084%.
ThyssenKrupp AG said that it intends to use proceeds from the transaction to refinance its 500-million-Euro bond redemption in March 2009 as well as to extend its debt maturity profile.
With a minimum denomination of 1,000 Euro, the bonds are eligible to be bought by retail investors.
With sales of 53.4 billion euros and 199,374 employees in over 70 countries, ThyssenKrupp is one of the world's major technology groups and occupies excellent positions on the international markets. The three main business areas of steel, capital goods and services, organized in five segments — Steel, Stainless, Technologies, Elevator and Services — mark out the Group's areas of competence.
