Thu, Apr 18th 2024
Lonza Group fortifies its financial strategy with a EUR 1 billion bond issue under its EMTN program.
Lonza Finance International NV, a fully owned subsidiary of Lonza Group Ltd based in Basel, Switzerland, has officially announced the pricing of a EUR 1 billion bond, representing the second drawdown under its Euro Medium Term Note (EMTN) program, claims a press release.
Scheduled for maturity on 24 April 2036, the bond offers an annual coupon rate of 3.875%.
This strategic financial move aims to bolster Lonza’s refinancing efforts and support its broad corporate objectives. The bond, guaranteed by Lonza, is set to be listed on the Luxembourg Stock Exchange’s Regulated Market, ensuring robust trading and visibility among European investors.
The company’s creditworthiness is underscored by its BBB+ rating from S&P Global Ratings, which reflects a stable financial outlook. This rating reassures investors of the bond’s security and Lonza’s reliable financial management.
The bond issue attracted a reputable consortium of financial institutions to manage the placement process as Joint Active Bookrunners, including BNP Paribas, Bank of America, Goldman Sachs, ING, JP Morgan, and Mizuho.
With an issue price of 98.715% and a redemption price set at 100%, the bond’s favourable terms are designed to appeal to a wide range of investors looking for stable returns in a reputable company committed to innovation and growth in the pharmaceutical and biotech sectors.
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