Symrise Issues Bond with a Volume of 300 million €

The second element of comprehensive refinancing concepts was completed successfully. The bond has a duration of seven years and a coupon of 4.125%. Investors demonstrated strong interest by a four times oversubscription.

Oct 18 2010 --- For the first time in company history Symrise AG has issued a bond with a volume of 300 million €. The bond has a duration of seven years and a coupon of 4.125%. It was offered to institutional and retail investors in Europe. The bond which was four times oversubscribed is the core element of the refinancing concept. It will be used for an early redemption of existing debt and to establish a longer term financing for the Company.

Bernd Hirsch, Chief Financial Officer of Symrise AG said: “We are pleased with the successful issue of our first bond and the positive response from investors. We have raised proceeds of 300 million € at attractive conditions. Together with the long-term loan of 175 million US$, which has already been obtained, we are making good progress in our refinancing phase. We have set the basis for a stable financing of our company’s development in the long-term.“

The bond was placed by Commerzbank, Deutsche Bank and UniCredit and trades under ISIN DE000SY117779 on the Regulated Market of the Luxemburg Stock Exchange.

Parallel to the bond issurance, Symrise successfully concluded a private placement of 175 mio. US$ with the US investor Prudential (Pricoa Capital Group). In addition, Symrise is currently negotiating a revolving credit facility. The finalization and thereby the completion of the refinancing is to be expected shortly.