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[March 2009]
Bayer Issues Corporate Bond With Volume of €1.3 billion
On 23 March 2009, the Bayer Group (Leverkusen, Germany) took advantage of the relatively favourable market environment to issue a corporate bond with a nominal volume of €1.3 billion. This step increases the company’s liquidity reserve and optimises the maturity structure of its financial liabilities.
The fixed rate bond, which is guaranteed by Bayer AG, was issued by Bayer Capital Corporation BV. It has a maturity of 5½ years and a coupon of 4.625 percent. The issue price was 99.4 percent. The bond issue met with considerable interest in the capital markets, evidenced above all by the fact that it was oversubscribed more than five times.
ENDS