Bond & Credit Information
The following graph shows the debt maturity schedule as per February 20, 2013:
On July 20, 2012, AkzoNobel successfully launched a €750 million euro bond at attractive terms, with a ten year maturity, at a coupon of 2.625 percent. The new bond issue will improve the overall debt profile of AkzoNobel, further reducing future refinancing risk and improving its maturity profile.
Both the chart as well as the table are updated for this change:
€1.8 billion syndicated Revolving Facility
|Key terms & conditions|
|Borrower||Akzo Nobel NV|
|Facility amount||€ 1.8 billion|
|Purpose||General corporate purposes|
|Financial ratio covenants||None|
In addition to the €1.8 billion revolving facility, AkzoNobel has a €1.5 & $1 billion commercial paper program in place, which can only be used to the extent that the equivalent portion of the revolving credit facility is not used .
AkzoNobel is committed to maintaining a strong investment grade rating. Regular review meetings are held between rating agencies and AkzoNobel senior management.
See table for present rating and outlook: (the Fitch rating is unsolicited)
|Rating agency||Long-term rating||Outlook|
|Standard & Poor’s2||BBB+||stable|
1 Rating affirmed on April 21, 2011
2 Rating affirmed on April 8, 2011