Media Release
Corporate
03/07/2012
Borealis bond successfully placed
Borealis, a leading provider of chemical and innovative plastics solutions, has successfully launched its second retails bond transaction in Austria with a maturity of 7 years. Due to strong investor demand, Borealis was able to increase the initially planned amount of EUR 100 million to EUR 125 million and accordingly the coupon was set at the lower end of the expected range at 4%. Borealis will use the additional funds for general corporate purposes, including the refinancing bank debt, the restructuring of the existing debt portfolio, terming out Borealis' debt and optimising the overall finance structure.
"After the success of our inaugural bond of 2010, we are again very pleased with the success of this bond in Austria,” says Borealis Chief Financial Officer Daniel Shook. “We believe this confirms that Borealis’ strategy of Value Creation through Innovation, in combination with our strong financial profile, represents an attractive investment opportunity. The Austrian bond is again a significant step in an overall strategy to diversify our funding investor base while extending our maturity profile.”
Borealis is one of the biggest companies in Austria and has its head office in Vienna. In Schwechat, Borealis operates one of the most modern polyolefins production plants in Europe with an annual production capacity of around 1 million tonnes. The Company’s international Innovation Headquarters is located in Linz, Austria. Borealis is the second largest Polyolefin plastics producer in Europe and number 8 worldwide ranked by nameplate capacity.
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For further information please contact:
Media inquiries:
Kerstin Meckler, Director Communications
Tel.: +43 (0)1 22 400 389
e-mail: kerstin.meckler@borealisgroup.com
Investor relations:
Jan-Martin Nufer, Director Treasury & Funding
Tel.: +43 1 22 400 320
e-mail: janmartin.nufer@borealisgroup.com
Borealis is a leading provider of chemical and innovative plastics solutions that create value for society. With sales of EUR 7.1 billion in 2011, customers in over 120 countries, and around 5,300 employees worldwide, Borealis is owned 64% by the International Petroleum Investment Company (IPIC) of Abu Dhabi and 36% by OMV, the leading energy group in the European growth belt. Borealis is headquartered in Vienna, Austria, and has production locations, innovation centres and customer service centres across Europe and the Americas.
Through Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company (ADNOC), one of the world’s major oil and gas companies, the company’s footprint reaches out to the Middle East, Asia Pacific, the Indian sub-continent and Africa. Established in 1998, Borouge employs approximately 1,700 people, has customers in more than 50 countries and its headquarters are in Abu Dhabi in the UAE and Singapore.
Building on Borealis’ unique Borstar® technology and their more than 50 years experience in polyolefins, Borealis and Borouge provide innovative, value creating plastics solutions for the infrastructure (pipe systems and power and communication cables), automotive and advanced packaging markets. In addition, Borealis offers a wide range of base chemicals from melamine and fertilizer to phenol and acetone.
Today, Borealis and Borouge have a manufacturing capacity of over 5.4 million tonnes of polyolefins (polyethylene and polypropylene) per year having recently completed a 1.5 million tonne capacity expansion in Abu Dhabi. The Borouge 3 plant expansion will be completed at the end of 2013 with a further capacity of 2.5 million tonnes per year (t/y) being fully operational in mid-2014. The companies continue to invest to ensure that their customers throughout the value chain and across the globe can always rely on product quality, consistency and security of supply.
Borouge and Borealis are committed to the principles of Responsible Care® and proactively contribute to addressing the world’s water and sanitation challenges through their Water for the World™ initiative.
For more information visit:
www.borealisgroup.com/bond
www.borouge.com
www.waterfortheworld.net
Water for the World is a trademark of the Borealis group.
Borstar is a registered trademark of the Borealis group.
