Chicago, June 16 – Evonik Industries AG issued a €750 million 2.25% green bond due 2027 (Baa2/BBB+), according to a press release and a stabilization notice.
The notes priced with a 99.386 discount and with a spread of 159.1 basis points over Bunds. Price talk had been at mid-swaps plus 125 bps area yield.
This is Evonik’s second green bond. The company first issued a green hybrid bond in summer 2021.
Barclays, Commerzbank, Credit Suisse, Deutsche Bank, Mizuho and Societe Generale are listed as bookrunners.
Proceeds will be mostly used to finance investments in the company’s product line that focuses on sustainability benefits. An example would be biosurfactants, innovative insulation materials and membranes for gas filtration.
Evonik is a specialty chemicals company based in Essen, Germany.
| Issuer: | Evonik Industries AG
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| Amount: | €750 million
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| Issue: | Green bonds
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| Maturity: | Sept. 25, 2027
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| Bookrunners: | Barclays, Commerzbank, Credit Suisse, Deutsche Bank, Mizuho and Societe Generale
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| Coupon: | 2.25%
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| Price: | 99.386
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| Spread: | Bunds plus 159.1 bps
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| Trade date: | May 18
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| Ratings: | Moody’s: Baa2
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| S&P: BBB+
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| Price talk: | Mid-swaps plus 125 bps area yield
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| ISIN: | XS2485162163
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