Bayer has placed 60-year hybrid bonds with institutional investors for 1.75 billion euros.
The bonds were oversubscribed several times, explained the pharmaceutical and agricultural group in Leverkusen. The proceeds will be used to buy back two outstanding hybrid bonds, which will run through next Tuesday. It is planned that Bayer’s net hybrid inventory will remain unchanged as a result of the transactions, according to the statement.
Of the newly issued hybrid bonds, one tranche is worth 750 million euros and has a break-in period of 5.25 years with a coupon of 6.625 percent, the other is worth 1.0 billion euros and has a break-in period of 8.25 years with a coupon of 1.0 billion euros 7,000 percent.
The bonds are designed in such a way that they are recognized as 50 percent equity capital by the rating agencies Standard & Poor’s, Moody’s and Fitch.
Bayer is investing 250 million euros in contraceptive production in Finland
Bayer is investing 250 million euros in a new contraceptive production facility in Finland.
The new plant in Turku is intended to expand production capacities for implants and hormonal coils for contraception, as the pharmaceutical and agricultural group announced on Thursday. Bayer is also building a new production facility for long-term contraceptives in Costa Rica. Both projects are part of the total investment of over 400 million euros announced in 2021 for new production capacities for the production of contraceptives. The Leverkusen-based group wants to achieve its goal of giving 100 million women in low- and middle-income countries access to modern contraceptives by 2030. Via XETRA, Bayer shares were temporarily trading 0.96 percent lower at 48.69 euros.
FRANKFURT (Dow Jones/Reuters)
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