Borealis successfully places EUR 200 million equivalent inaugural dual currency “Samurai” Loan

Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, continues to further diversify its financing portfolio and successfully closes its inaugural transaction in the Japanese market in form of a “Samurai” loan. The issue has final volumes of USD 175 million and JPY 5,000 million, which in total amounts to approximately EUR 200 million equivalent and a tenor of five years.

While trading companies use the instrument regularly for shorter tenor funding, Borealis is the second Western European corporate since 2014 to access the Samurai Loan market and the first to issue a dual currency tranche in USD and JPY. With the Samurai, Borealis is again a frontrunner in innovative financings. Following a remarkably well received and concise roadshow in Japan, 18 investors participated in the transaction with a significantly oversubscribed book, showing high interest for the Borealis’ credit & growth story and the long-term relationship approach.

“The transaction is not only attractive from a margin perspective, but delivers flexible US dollar funding as well as a healthy investor diversification to secure funds for Borealis’ growth journey,” says Borealis CFO Mark Tonkens.

MUFG Bank, Ltd. acted as Sole Arranger, Bookrunner and Facility Agent.

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Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals, fertilizers and melamine. With its head office in Vienna, Austria, the company currently has more than 6,800 employees and operates in over 120 countries. Borealis generated EUR 8.3 billion in sales revenue and a net profit of EUR 906 million in 2018. Mubadala, through its holding company, owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers globally, in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC) and with Baystar™, a joint venture with Total and NOVA Chemicals in Texas, USA.