Solvay to redeem €700 million 4.199% perpetual hybrid bonds on May 12

By Marisa Wong

Morgantown, W.Va., April 3 – Solvay SA announced that subsidiary Solvay Finance SA will call its €700 million hybrid bond for redemption on May 12.

The company is redeeming the 4.199% perpetual deeply subordinated bond 5.5 years after issuance.

The redemption follows Solvay’s issuance of €300 million of 4.25% perpetual hybrid bonds in December.

Following the redemption, the overall quantum of hybrid bonds in Solvay’s balance sheet will decrease to €1.8 billion from €2.5 billion as of the end of December, the company said.

Solvay is a Brussels-based chemical manufacturer.

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