Yesterday, on April 2, OMV has successfully priced the issue of senior bonds with a total volume of EUR 1.75 bn. The transaction consists of the following tranches:
- EUR 0.5 bn at a coupon of 1.500% due April 9, 2024
- EUR 0.5 bn at a coupon of 2.000% due April 9, 2028
- EUR 0.75 bn at a coupon of 2.375% due April 9, 2032
The proceeds from the issue of the notes shall be used in particular for the financing of the acquisition of an additional 39% stake in Borealis AG. The settlement date is April 9, 2020.
The notes are expected to be rated A3 by Moody’s and A- by Fitch.
OMV produces and markets oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 23 bn and a workforce of around 20,000 employees in 2019, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Central and Eastern Europe as well as a balanced international portfolio, with Middle East & Africa, the North Sea, Russia and Asia-Pacific as further core regions. Daily average production was 487,000 boe/d in 2019. In Downstream, OMV operates three refineries in Europe and owns a 15% share in ADNOC Refining and Trading JV, with a total annual processing capacity of 24.9 mn tons. Furthermore, OMV has a 36% participation in Borealis, one of the world’s leading producers of polyolefins. The Company operates about 2,100 filling stations in ten European countries. OMV runs gas storage facilities in Austria and Germany; its subsidiary Gas Connect Austria GmbH operates a gas pipeline network in Austria. In 2019, gas sales volumes amounted to around 137 TWh. Sustainability is an integral part of OMV’s corporate strategy. OMV supports the transition to a lower-carbon economy and has set measurable targets for reducing carbon intensity and introducing new energy and petrochemical solutions.