Corporate | Financial

— Market environment offers attractive terms

— Issue Price: 100 per cent

— Maturity: 7 years

— Non-Conversion Period: 5 years

— Proceeds to be used for the refinancing of existing loan and capital markets indebtedness and for general corporate purposes of the Company


Symrise AG (“Symrise”) today successfully placed with institutional investors €400m unsecured convertible bonds, with a maturity of 7 years and denominations of €100,000 each. Shareholders’ pre-emptive rights were excluded.

The convertible bonds are convertible into new and/ or existing no par value bearer shares of the issuer (the ‘Ordinary Shares’) not earlier than five years from now. The total number of shares underlying the convertible bonds corresponds to 3.4% of the current share capital. The net proceeds raised will be used to refinance existing loan and capital markets indebtedness and for general corporate purposes of the Company.

‘With this issuance we are taking the opportunity of the positive convertible bond market environment to secure long-term financing at attractive terms from the capital markets.‘ says Olaf Klinger, CFO of Symrise AG. ‘In addition, we are diversifying our investor basis.‘

The coupon amounts to 0.2375 % p.a. payable annually in arrear. The initial conversion price has been fixed at €91.8595, corresponding to a premium of 45 % to the volume-weighted average share price of Symrise during the bookbuilding process today.

Symrise intends to apply for inclusion of the Bonds to trading on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange.

The convertible bonds were placed in an accelerated bookbuilding only with institutional investors outside the United States in reliance on Regulation S (Category 1) under the United States Securities Act of 1933 as amended, as well as outside of Australia, Canada and Japan.

About Symrise

Symrise is a global supplier of fragrances, flavorings, cosmetic base materials and substances as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food.

With sales of more than € 2.9 billion in 2016, Symrise is among the global leaders in the market for flavors and fragrances. Headquartered in Holzminden, Germany, the Group is represented in over 40 countries in Europe, Africa and the Middle East, Asia, the United States and Latin America.

Symrise works with its clients to develop new ideas and market-ready concepts for products that form an indispensable part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise – always inspiring more...Symrise, always inspiring more ...

Media Contacts:

Bernhard Kott
Phone: +49 (0)5531 90-1721

Tobias Erfurth
Phone: +49 (0)5531 90-1879

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