Dusseldorf, Germany — Henkel has raised a $600 million loan in the eurodollar market, to pay for recent acquisitions.
The loan, called a bond, as a term of three years and pays 2% interest per year. It will have to be paid in full or refinanced by 2 June 2020, the firm said. Henkel chose a dollar bond, it said, because the payments needed to settle recent corporate purchases were to be made in dollars.
The firm said: "The proceeds from the issue will be used to finance the acquisitions Henkel recently announced. This year, Henkel signed agreements to acquire the global Darex Packaging Technologies business from GCP Applied Technologies, Mexican haircare company Nattura Laboratorios as well as Sonderhoff."
The Sonderhoff deal was reported in UTECH-polyurethane.com on 22 May 2017 and was designed to increase Henkel's exposure to foam-in-place gasket technology.