Clariant Places Certificates of Indebtedness

Swiss specialty chemicals producer  Clariant has issued certificates of indebtedness worth $276.5 million and €95 million of debt in the German market. The proceeds, it said, will be used for refinancing and general corporate purposes. The US dollar-denominated tranche has a term of five years and the euro-denominated certificates five and seven years respectively.

The interest to be paid for the certificates is based on six-month Euribor and three-month US dollar Libor (variable tranche) or mid-swap (fixed tranche), respectively, plus a credit margin premium (spread). Total interest costs of the fixed tranches range between 0.78% and 2.62% per annum, the company said.

Sole arranger of the issue is Landesbank Hessen, the bank of the German state of Hesse.