By Rebecca Melvin
New York, May 29 – BASF SE priced €2 billion of green notes, including three-year fixed-rate senior notes and seven-year green fixed-rate senior notes (A2/A), according to a syndicate source on Friday.
The €1 billion of 0.101% three-year notes priced at par to yield mid-swaps plus 40 basis points. Pricing for the three-year notes was guided to the mid-swaps plus 45 bps area from initial talk in the mid-swaps plus 75 bps area.
The €1 billion of 0.25% seven-year notes priced at 99.772 to yield 0.283%, or mid-swaps plus 50 bps. Pricing was guided to the mid-swaps plus 60 bps area from initial talk in the mid-swaps plus 90 bps area.
The three-year notes have a par call one month prior to maturity, and the seven-year green notes have a par call three months prior to maturity.
Barclays, BNP Paribas, Deutsche Bank, ING, SMBC Nikko and Societe Generale are the bookrunners.
Proceeds will be used for general corporate purposes and to finance or refinance eligible green projects.
The chemical company is based in Ludwigshafen, Germany.
| Issuer: | BASF SE
|
| Amount: | €2 billion
|
| Bookrunners: | Barclays, BNP Paribas, Deutsche Bank (bill and deliver), ING, SMBC Nikko and Societe Generale
|
| Trade date: | May 29
|
| Settlement date: | June 5
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | Regulation S
|
|
|
| 2023 notes
|
| Amount: | €1 billion
|
| Maturity: | June 5, 2023
|
| Description: | Senior notes
|
| Coupon: | 0.101%
|
| Price: | Par
|
| Yield: | 0.101%
|
| Spread: | Mid-swaps plus 40 bps
|
| Price talk: | Guided to mid-swaps plus 45 bps area, from initial talk of mid-swaps plus 75 bps area
|
|
|
| 2027 notes
|
| Amount: | €1 billion
|
| Description: | Green senior notes
|
| Maturity: | June 5, 2027
|
| Coupon: | 0.25%
|
| Price: | 99.772
|
| Yield: | 0.283%
|
| Spread: | Mid-swaps plus 60 bps
|
| Price talk: | Guided to mid-swaps plus 60 bps area, from initial talk of mid-swaps plus 90 bps area
|
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