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Syngenta plans to issue notes to refinance takeover by ChemChina
September 6, 2017 / 2:48 PM / 15 days ago

Syngenta plans to issue notes to refinance takeover by ChemChina

The logo of Swiss agrochemicals maker Syngenta is seen on a farm in the village of Geispitzen, France June 27, 2017. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Syngenta (SYNN.S) plans to issue multi-tranche, benchmark-sized notes with maturities up to 30 years to refinance bridge loans used by ChemChina for its $43 billion takeover of the Swiss chemical maker, Syngenta said on Wednesday.

Syngenta mandated BNP Paribas, Citi, Credit Suisse, HSBC, MUFG and Santander to arrange fixed-income investor meetings starting Sept. 11. Syngenta also said it may use its $7.5 billion Euro Medium Term Note programme for further issuances.

“The net proceeds from the sale of the notes will be used mainly to refinance the bridge financing for ChemChina’s acquisition,” the company said in a statement. “Any remaining proceeds would be used for general corporate purposes at Syngenta.”

Reporting by John Miller; Editing by Michael Shields

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