Austrian chemicals group Borealis plans to issue a retail-targeted seven-year bond totaling Eur100 million ($127 million) subject to market conditions, the company said Wednesday.
The issue will have a fixed coupon which has yet to be set.
The net proceeds will be used in particular to refinance and term out Borealis' bank debt, restructure its existing debt portfolio, expand its funding options, as well as optimize the company's overall finance structure, the company said in a statement.
The bond is expected to be placed with both private and international institutional investors in. The issue date of the notes will be July 2, and the subscription period for retail investors slated for June 25-27.