Partial buyback of Evonik Degussa Bonds
- Buyback offer addressed to both institutional and retail investors
- Transaction intended to reduce debt and to smoothen the maturity profile
Evonik Industries AG plans to buy back part of the Evonik Degussa bonds (ISIN: XS0181557454) for early debt reduction and to further improve its financial structure. The ten-year bonds with a total volume of €1.25 billion will mature on December 10, 2013. Its interest rate is 5.125% p.a.
Chief Financial Officer Dr. Wolfgang Colberg: "We have materially strengthened our financial profile over the last few years and this partial bond buyback is another milestone on this route."
In the period from October 12 to 20, 2011, 5 p.m. (Frankfurt/Main local time), Evonik offers investors the opportunity to issue quotations for the buyback of shares in the Evonik Degussa bonds and to receive a call premium on the price at the end of the quotation period. The final buyback price is scheduled to be announced on October 21, 2011.
Evonik reserves the right to have the first quotation phase followed by a second one. In this case, the company would use the buyback price determined on October 21, 2011 to exclusively target private investors holding shares with nominal values of less than €250,000. This phase would directly follow the first phase and include a longer quotation period.
Interested investors may contact their regular financial institutions or the Evonik homepage at www.evonik.com.
Outside of the Federal Republic of Germany, the Netherlands, Austria, and Luxembourg the information contained in this press release neither represents an offer to purchase securities nor a request to issue a sales quotation and shall not be deemed to target persons who are prohibited or not permitted to receive such request.
Evonik Industries AG
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. In 2010 about 80 percent of the Group's chemicals sales came from activities where it ranks among the market leaders. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2010 more than 34,000 employees generated sales of around €13.3 billion and an operating profit (EBITDA) of about €2.4 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.