Brenntag $500 million 1.875% bond issue

Overview:

• German chemical distributor Brenntang issued €500 million in bonds to raise funds for general corporate purposes and financing acquisitions.
• The bonds have a coupon of 1.875 and mature in December 2022. 
• Only non-US institutional investors were able to buy the bonds.
• The senior guaranteed bonds, which were issued through SPV, Brenntag Finance, were sold with warrants which entitle investors to acquire ordinary registered shares in the business.

Ben Naylor - Regional Editor