Arkema to hit road for €600m hybrid amid volatile markets

By Jon Hay
14 Oct 2014

Arkema, the French chemicals company, announced on Tuesday a roadshow for a hybrid capital issue, despite volatile market conditions in which corporate hybrids in particular have been knocked wider.

The company, rated Baa2/BBB, both on negative outlook, is buying Bostik, the glue maker, from Total – the company from which it was itself spun off.

Arkema is paying an enterprise value of €1.74bn, 11 times Ebitda.

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