Norton Rose Fulbright advises on AkzoNobel EUR1.1 billion bond issuance

Global law firm Norton Rose Fulbright has advised the joint lead managers on a EUR1.1 billion dual-tranche bond issuance by AkzoNobel.

AkzoNobel is a Netherlands-based global leader in the paints and coatings industry. This transaction represents its first benchmark issuance of 2026.

AkzoNobel's EUR1.1 billion issuance consists of a EUR600 million tranche and a EUR500 million tranche, with five-year and ten-year maturities and a coupon of 4.000 per cent and 4.625 per cent respectively.

AkzoNobel will use the funds in line with its general corporate purposes and to finance initiatives related to its proposed merger with US-based Axalta.

The bond was placed globally with Barclays, Deutsche Bank, ING, Santander and Société Générale acting as joint lead managers for the issuance.

The team was led by Amsterdam-based capital markets partner Peter Voorhees and supported by counsel Chris Sanderson and associate Bea Byrne Hill. The wider team also included London-based partner James Kent and Amsterdam-based counsel Thomas Ticheloven.

Peter Voorhees commented:

"We are pleased to have advised the joint lead managers and supported AkzoNobel on this significant note issuance in the run up to its proposed merger with Axalta."

Norton Rose Fulbright's lawyers cover the full range of equity and debt capital markets matters, from domestic and international equity offerings and multiple listings for large multinationals, to investment grade and high-yield debt transactions for sovereigns, banks, export credit agencies, multilaterals, institutional investors and international companies, as well as securitization and derivatives.