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ALTANA successfully places €150 million German Schuldschein
ALTANA has issued a Schuldschein for the first time. It strengthens the company's long-term financing capacities and will be used to partially refinance a syndicated credit line of €400 million which, for the most part, will expire in the spring of 2013.
Furthermore, the transaction enables the company to diversify its financing instruments and helps safeguard ALTANA's flexibility for further growth. Both tranches are partially furnished with a variable interest and partially with a fixed interest rate. Due to the great level of interest in this transaction, the interest rate was set at the lower end of the marketing range. The fixed-interest rate is set at an average of 2.78 % per year. The issue was arranged by the two accompanying banks HSBC Trinkaus and Landesbank Baden-Württemberg.
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