Linklaters advises Solvay on the EUR 6bn separation of its speciality business and inaugural EUR 1.5bn dual tranche bond issuance

Linklaters advises Solvay on the €6bn separation of its speciality business and inaugural €1.5bn dual tranche bond issuance. Linklaters has assisted Solvay to complete its first €1.5bn dual tranche bond issuance. The bond issuance was another important milestone for Solvay after the strategic separation of its €6bn speciality business to Syensqo.

The teams' work followed the strategic advice given by the team on the preparation and the execution of the separation in 2023. This involved a comprehensive €4bn bond liability management operation and the creation of new capital structures for Solvay and Syensqo after the separation, consisting of various syndicated and bilateral term, revolving and bridge bank loans and new short term debt programmes for a total amount of around €8.4bn.

The Linklaters team was headed by Brussels based partners Anne-Sophie Vankemmelbeke and Charles-Antoine Leunen, with the assistance from a cross border team based in Paris, London and New York, including partners Arjun Muddu, Luis Roth and associates Jessica Andrew, Delphine Collinet, Seline Akdeniz, Sophie Noirfalisse, Marie Jansen, Petra Tang, Jose Aleman and Liam Jenkins.