Unilever issues its first ever Renminbi bond
London & Rotterdam: Unilever announced today the issuance of its first ever Renminbi (Rmb)-denominated bond.
The Rmb 300,000,000 1.15% per cent Fixed Rate Notes due 31st March 2014 (the “Notes”) are issued by Unilever N.V. and guaranteed by Unilever PLC and Unilever United States, Inc.
Unilever’s Renminbi bond is the first issued by a European multinational and the first by a company in the FMCG sector. The Notes, issued in Hong Kong for institutional investors, have an approximate equivalent value of US$45m/€33m.
Graeme Pitkethly, Unilever’s Group Treasurer, explains: “We have clearly defined ambitions in Unilever. This bond brings a new source of high quality funding to fuel those growth plans by increasing our investment in China. We are delighted with the terms of the financing.”
Unilever has a well-established presence in China, serving Chinese consumers with its international brand portfolio as well as with local brands. In order to further its long-term commitment to China, in 2000 Unilever initiated a new strategic blueprint for its operations, which included the development of one of its largest manufacturing sites for home care, beauty & personal care, and tea products in Hefei, which exports products to 14 countries. In 2009 Unilever extended its presence further when it opened one of its global research and development centres in Shanghai.
The following Final Terms for the Notes are available for viewing: Final Terms dated 28th March 2011 relating to the Information Memorandum dated 6th May 2010 and Supplemental Information Memorandum dated 28th March 2011 for the US$15,000,000,000 Debt Issuance Programme with Unilever N.V., Unilever PLC and Unilever Japan K.K. as issuers.
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