19:13 PM

Bayer concludes refinancing of the Monsanto acquisition by placing bonds with a volume of 5 billion euros


Issue of four tranches with maturities of 4 to 11½ years was more than four times oversubscribed

Leverkusen, June 19, 2018 - Via its subsidiary, Bayer Capital Corporation B.V., Mijdrecht, Netherlands, the Bayer Group is issuing bonds with a volume of 5 billion euros guaranteed by Bayer AG. The issue comprises four tranches with differing maturities and exclusively targets institutional investors. It was more than four times oversubscribed. Bayer intends to have the bonds listed on the Luxembourg Stock Exchange.

"With this transaction, we have successfully concluded the refinancing of the Monsanto acquisition. It confirms our outstanding reputation and the high level of confidence that Bayer enjoys on the capital markets," said Bayer CFO Wolfgang Nickl. "The investment-grade ratings from three rating agencies are evidence of Bayer’s continued good credit standing following the acquisition."

The bond with a maturity of 4 years and a volume of 0.75 billion euros has a floating interest rate of 0.55 percentage points above the three-month Euribor. The longer-term bonds have maturities of 4½, 8 and 11½ years and fixed interest rates of 0.625 percent p.a. (volume of 1.0 billion euros, maturing in 2022), 1.5 percent p.a. (volume of 1.75 billion euros, maturing in 2026) and 2.125 percent p.a. (volume of 1.5 billion euros, maturing in 2029).

Bayer recently already placed bonds with a volume of 15 billion U.S. dollars with institutional investors.

The company intends to use the net proceeds from the bond issues to pay down portions of the syndicated credit facility used as bridge financing for the acquisition of Monsanto.

About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2017, the Group employed around 99,800 people and had sales of 35.0 billion euros. Capital expenditures amounted to 2.4 billion euros, R&D expenses to 4.5 billion euros. For more information, go to www.bayer.com.

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Additional Information
This release does not constitute or relate to a public offer of securities for sale or a solicitation of an offer to purchase securities. The securities will not be or have not been registered under the U.S Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act.



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