By Sarah Lizee
Olympia, Wash., Aug. 25 – Solvay issued a new €500 million 2˝% perpetual hybrid bond (Ba1/BB+), according to a press release.
The coupon will be 2˝% until March 2, 2026. The coupon will reset on March 2, 2026 and every five years after that.
Proceeds will be used for general corporate purposes, including the possible repayment of other debt.
Solvay is a Brussels-based chemical manufacturer.
| Issuer: | Solvay
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| Issue: | Hybrid bonds
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| Amount: | €500 million
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| Maturity: | Perpetual
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| Coupon: | 2˝%; resets March 2, 2026 and every five years thereafter
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| Yield: | 2 5/8%
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| First call: | Dec. 2, 2025
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| Announcement date: | Aug. 25
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| Ratings: | Moody’s: Ba1
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| S&P: BB+
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