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Arkema Prices €300 Million Undated Hybrid Notes

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By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

Arkema (BBB+ S&P / Baa1 Moody’s) completed today a €300 million ($334 million) undated hybrid bond issue at a yearly coupon of 1.5 percent until the first call date after six years.

Taking advantage of favorable market conditions and following its previous hybrid refinancing operation in June 2019, the Group thus acquires the possibility to refinance the remaining €300 million portion of its outstanding 4.75 percent hybrid notes with a first call date on October 2020.

The bonds will be subordinated to any senior debt and will be recognized in equity in accordance with IFRS rules. They will be subject to capital treatment equivalent to 50 percent of their amount by Moody’s and Standard and Poor’s rating agencies.

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