Merck KGaA, Darmstadt, Germany, Places Bonds Amounting to € 1.5 Billion
- Revenues from bond issuance will be used to refinance bonds maturing in March 2020
- Two tranches issued, bonds significantly oversubscribed
Merck KGaA, Darmstadt, Germany, a leading science and technology company, today successfully issued bonds amounting to € 1.5 billion. The revenues from the bond issue will serve to refinance bonds maturing in March 2020.
The issuance comprises two fixed-interest tranches: a bond with a term of 5.5 years amounting to € 750 million paying a coupon of 0.125 %, as well as a bond amounting to € 750 million with a term of 8.5 years paying a coupon of 0.5 %.
Achieving a well-diversified distribution among a wide range of institutional investors such as fund managers, insurance companies, pension funds, and banks, the bonds were heavily oversubscribed. “The high demand for our bonds once again confirms the strong confidence in the financial discipline of Merck KGaA, Darmstadt, Germany,” said Marcus Kuhnert, member of the Executive Board and Chief Financial Officer. The active bookrunners commissioned for the transaction were Banco Bilbao Vizcaya Argentaria (BBVA), DZ Bank, Landesbank Baden-Württemberg (LBBW), Mizuho Bank, and Skandinaviska Enskilda Banken (SEB).
Merck KGaA, Darmstadt, Germany is rated “A” (stable outlook) by Standard & Poor’s, “A–“ (stable outlook) by Scope and “Baa1” (stable outlook) by Moody’s. (More details can be found here).
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About Merck KGaA, Darmstadt, Germany
Merck KGaA, Darmstadt, Germany, a leading science and technology company, operates across healthcare, life science and performance materials. Around 56,000 employees work to make a positive difference to millions of people’s lives every day by creating more joyful and sustainable ways to live. From advancing gene editing technologies and discovering unique ways to treat the most challenging diseases to enabling the intelligence of devices – the company is everywhere. In 2018, Merck KGaA, Darmstadt, Germany, generated sales of € 14.8 billion in 66 countries.
The company holds the global rights to the name and trademark “Merck” internationally. The only exceptions are the United States and Canada, where the business sectors of Merck KGaA, Darmstadt, Germany operate as EMD Serono in healthcare, MilliporeSigma in life science, and EMD Performance Materials. Since its founding 1668, scientific exploration and responsible entrepreneurship have been key to the company’s technological and scientific advances. To this day, the founding family remains the majority owner of the publicly listed company.
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