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AkzoNobel Successfully Issues €500 Million Floating Rate Note

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By: Anthony Locicero

Copy Editor, New York Post, Rodman Media

AkzoNobel on Monday said it launched a €500 million floating rate note (FRN) at attractive terms, with a two-year maturity.

The new issue allows AkzoNobel to take advantage of favorable market conditions and low interest rates while strengthening its liquidity position. Proceeds of the notes will be used for general corporate purposes.

The issue will be listed on the Luxembourg Stock Exchange. Settlement is scheduled for Nov. 10, 2017, and the notes will mature on Nov. 8, 2019.

AkzoNobel is committed to maintaining a strong investment grade rating.
 

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