{"id":7449,"date":"2020-07-30T08:07:14","date_gmt":"2020-07-30T08:07:14","guid":{"rendered":"https:\/\/bartalks.net\/?p=7449"},"modified":"2021-01-01T16:02:22","modified_gmt":"2021-01-01T16:02:22","slug":"barry-callebaut-debt-placing-oversubscribed","status":"publish","type":"post","link":"https:\/\/bartalks.net\/barry-callebaut-debt-placing-oversubscribed\/","title":{"rendered":"BARRY CALLEBAUT DEBT PLACING OVERSUBSCRIBED"},"content":{"rendered":"\n

The Barry Callebaut Group<\/a> announced the successful placement of its second debt funding (called Schuldscheindarlehen) in two years using a financial debt instrument similar to a promissory note. <\/p>\n\n\n\n

The company has raised a total of CHF 450 million (US $492.7 million). The weighted average tenor (maturity of the note) is 6.9 years, with a weighted average interest rate of 1.68%. <\/p>\n\n\n\n

The offer was clearly attractive as it became heavily oversubscribed, with German and Asian banks, and also a broad range of other European banks participating.<\/p>\n\n\n\n

We are pleased with the very significant interest of international investors in our offering. This issuance means a further shift from uncommitted to committed funding sources through which we emerge from the COVID-19 crisis with a further strengthened balance sheet.<\/p>Remco Steenbergen, Chief Financial Officer of the Barry Callebaut Group<\/cite><\/blockquote>\n\n\n\n

The income is allocated to general corporate purposes. Barry Callebaut wanted finance to boost the company’s long-term liquidity by extending the average maturity at record low interest rates and reduce its reliance on short-term funding sources.<\/p>\n\n\n\n

In plain English, this means they see the low-interest rates right now as a very attractive way to finance the business over the long term and avoid repeated rounds of short term financing at potentially less attractive rates.<\/p>\n\n\n\n

Landesbank Baden-W\u00fcrttemberg, Cooperatieve Rabobank U.A. (in cooperation with Raiffeisen Bank International AG), Soci\u00e9t\u00e9 G\u00e9n\u00e9rale and SEB AB Frankfurt Branch arranged the offering.<\/p>\n\n\n\n

Barry Callebaut issued its first promissory note loan in February 2019. At that moment, the EUR 600 million equivalent of the promissory note loan was the largest made in CHF.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Barry Callebaut Group places debt offering to bolster long term finance<\/p>\n","protected":false},"author":7,"featured_media":7491,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_gspb_post_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1835,1701,1838],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/posts\/7449"}],"collection":[{"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/comments?post=7449"}],"version-history":[{"count":0,"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/posts\/7449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/media\/7491"}],"wp:attachment":[{"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/media?parent=7449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/categories?post=7449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bartalks.net\/wp-json\/wp\/v2\/tags?post=7449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}