Investors show confidence in Covestro Covestro successfully issues EUR 1.0 billion Eurobond

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Covestro successfully issues EUR 1.0 billion Eurobond Inbox x Anil Agre Mon, Jun 15, 9:39 PM (16 hours ago) to Anil • Placement in two tranches with maturities of 5 years and 10 years • Investor demand was exceptionally high with the orderbook being more than 10 times oversubscribed • CFO Dr. Thomas Toepfer: “Even in these challenging times, the capital market has continued confidence in Covestro and our robust financial policies.” Covestro successfully placed a Eurobond with a total volume of EUR 1.0 billion in the capital markets. The bond was issued in two tranches maturing February 2026 and June 2030 and pays a coupon of 0.875% and 1.375% respectively. Investor demand was exceptionally high with the orderbook being more than 10 times oversubscribed. The transaction allows Covestro to extend the average maturity of its bonds substantially. Proceeds of the bond placement will be used to further strengthen Covestro's liquidity in the current macroeconomic environment with the impact of the coronvirus pandemic, as well as providing funds for the 2021 bond maturity. “The exceptional demand from investors for our bond clearly demonstrates that even in these challenging times, the capital market has continued confidence in Covestro and our robust financial policies”, said CFO Dr. Thomas Toepfer. “The placement of EUR 1.0 billion Eurobond with long-dated maturities is part of our program to build substantial liquidity reserves whilst capturing attractive terms and pricing.” Covestro was supported on this issuance by BNP Paribas, Bank of America, Commerzbank, and UniCredit as bookrunners. About Covestro: With 2019 sales of EUR 12.4 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 17,200 people (calculated as full-time equivalents) at the end of 2019. This press release is available for download from the Covestro press server at www.covestro.com. Find more information at: www.covestro.com Follow us on Twitter: www.twitter.com/Covestro