Ineos Said to Be Paying Off Junk-Rated Debt

Ineos Group Holdings is preparing to sell a billion euros worth of bonds in euros and dollars now that borrowing costs of junk-rated debts have fallen to record lows in Europe, the news agency Bloomberg has reported.

The international petrochemicals giant is marketing five-year senior notes to repay all of its outstanding euro-denominated bonds scheduled to come due in 2016, the news agency quotes sources as saying. The average yield on speculative-grade bonds in euros fell four basis points to 4.7%, according to Bank of America Merrill Lynch data.

Another high-yield borrower seeing to raise debt in Europe, according to Bloomberg, is Innovia Films, a manufacturer of cellulosic packaging film acquired by Arle Capital Partners in 2004. Bloomberg said the company began meeting European investors in mid-February to market €340 million worth of six-year floating-rate notes.

Free Virtual Event

Digital Validation
Transforming from Paper to Digital

Digital Validation

Our experts will delve into the recently released International Society for Pharmaceutical Engineering (ISPE) Good Practice Guide: Digital Validation

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.