Heerlen, NL, 10 Mar 2009 06:15 CET
Royal DSM N.V., the global Life Sciences and Materials Sciences company headquartered in The Netherlands, has successfully issued a €500 million 5.75% bond due 2014.
The high demand from investors exceeded the companies’ optimistic expectation. The order book had an exceptional high quality and totaled over €2.4 billion and was closed early.
The proceeds will be used to refinance loans maturing in 2009 as well as to convert a substantial part of DSM’s short term funding position into a long-term position, as this fits within DSM’s conservative financial policy. Furthermore, it provides the company with sufficient financial flexibility, which is important in the current financial climate. Until 2013, when a loan of $150 million matures, DSM has no long-term refinancing needs.
The terms are laid down in the €2.5 billion Debt Issuance Program of Royal DSM N.V., the final terms and the supplements thereto.
The issue price was 99.240%. Based on this price the yield is 5.930%. The bond is listed on Euronext Amsterdam as of today.
This release does not constitute an offer or an invitation to subscribe for or purchase any securities. The notes are being offered only by means of a prospectus.