Syensqo Launches New 5-Year, 10-Year U.S. Dollar Bonds

By Miriam Mukuru

Belgian chemicals company Syensqo launched new five-year and 10-year U.S. dollar-denominated bonds, each of $600 million, it said on Friday.

The five-year bond has a coupon of 5.650% and the 10-year bond a 5.850% coupon rate, it said.

The proceeds will go toward general corporate purposes, including repaying the bridge loan facility the company set up at the end of 2023 related to the demerger from Solvay, Syensqo said.

"We are constructive on [Syensqo's] credit, which benefits good business diversification, strong exposure to specialty chemicals, and low leverage metrics," CreditSights senior analyst Laurent Vergnault said in a note.

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(END) Dow Jones Newswires

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