ERJ staff report (DS)
Hong Kong - Lanxess AG has successfully placed a Chinese offshore Renminbi (CNH) denominated bond in Hong Kong. The issue has a volume of RMB 500 million (roughly EUR 60 million) and a three-year term.
The bond has a 3.95 percent per year coupon and will be traded as of February 16, 2012. The bond was placed with institutional investors in Asia and Europe.
Lanxess has received approval from the central bank of China to repatriate the funds from the bond issue into mainland China and they will be used to finance the company's operating business and growth strategy there.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Press release from Lanxess