Symrise AG

EANS-News: Symrise AG
Symrise AG agrees term note of USD 175 million

- Term note represents another element of Symrise┬ĺs refinancing concept - Private placement with US investor Prudential Investment Management Inc.

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Company Information

Subtitle: - Term note represents another element of Symrise┬ĺs refinancing concept - Private placement with US investor Prudential Investment Management Inc.

Holzminden October 13th, 2010 (euro adhoc) - As part of its refinancing concept, Symrise AG has agreed a senior term note of USD 175 million with Prudential Investment Management Inc. In addition to the planned bond issue, the US Private Placement represents another element of the refinancing concept that aims at an early redemption of the existing debt and establishes a longer-term financing for the Company.

The term note has a duration of 10 years and will be used to refinance existing debt. The note has a coupon of 170 basis points above the ten year US-Treasury-Bond and was offered to US investor Prudential Investment Management Inc. in a private placement.

Bernd Hirsch, Chief Financial Officer of Symrise AG said: "It is our objective to widen the basis of Symrise┬┤s financing and to secure it in the long term. As part of our refinancing concept we have therefore decided to use different financing sources and -measures. With this 10 year senior term note, we have finalized another financing instrument at attractive conditions which complements our planned bond offering very well."

The main part of Symrise┬┤s refinancing concept is the bond issue, regarding which the Company is currently in talks with investors in Germany and Europe. Symrise intends to redeem a total of 550 million EUR of debt which matures at the end of 2011.

About Symrise

Symrise is a global supplier of fragrances and flavorings while also manufacturing raw materials and active ingredients for the perfume, cosmetics and food industries.

Its sales of EUR 1.36 billion in 2009 place the company among the top four in the international flavors and fragrances market. Headquartered in Holzminden, Germany, Symrise is represented in over 35 countries in Europe, Asia, the United States and Latin America.

Used by manufacturers of perfumes, cosmetics and foods, our products are an inseparable part of daily life. At Symrise we combine an awareness of consumer trends with cutting-edge technologies, focusing on innovative fashion and lifestyle products that have additional practical value for the consumer. Symrise - always inspiring more┬ů

end of announcement                               euro adhoc

Further inquiry note:

Media contact:
Bernhard Kott
Phone: +49 (0)5531 90-1721

Branche: Chemicals
ISIN: DE000SYM9999
Index: MDAX
B├Ârsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
D├╝sseldorf / free trade
Hannover / free trade
M├╝nchen / free trade

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