Evonik reaps €80m in institutional buyback, now for retail
Evonik Industries completed the first phase of a bond buyback on October 21, harvesting €80.304m of paper.
The German speciality chemicals group, which comprises former parts of RAG and Degussa, hopes to buy back up to 500m of its 1.25bn December 2013 bond, which was launched in 2003. It has excess cash and wants to reduce debt.Dealer managers Commerzbank, Deutsche Bank and WestLB have now ...
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