Arkema braves weaker market, sells €700m M&A hybrid soundly

By Jon Hay
23 Oct 2014

Arkema, the French chemicals company, launched its hybrid bond issue successfully on Thursday, having decided to press ahead with the deal despite market conditions that are much less favourable for higher risk deals than in September.

The Baa2/BBB rated company has a strategic reason for the deal – it had said it would issue €600m-€700m of hybrid capital as part of the financing for its €1.74bn acquisition of glue maker Bostik from its own former parent company, Total.

The rest of the acquisition price ...

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