Germany's SGL Carbon announces €200 million floating-rate bonds

By Paul A. Harris

St. Louis, May 2 - SGL Carbon AG announced in a Wednesday press release that it plans to place about €200 million of senior floating-rate corporate bonds as part of a comprehensive refinancing package.

Moody's Investors Service assigns its Ba3 senior unsecured debt rating to the Wiesbaden, Germany-based manufacturer of carbon-based products.

In the same press release, the company disclosed that it has placed €200 million of convertible securities in a transaction that is expected to settle on May 16. The joint lead managers for the convertibles deal were Dresdner Kleinwort, ABN Amro Rothschild and LBB.

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