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Home Industry News Bayer tries to optimise financial liabilities

Bayer tries to optimise financial liabilities

24th March 2009

Bayer Group has made efforts to optimise the maturity structure of its financial liabilities, it has claimed.

The company issued a corporate bond with a nominal volume of 1.3 billion euros (1.2 billion pounds).

By taking advantage of the relatively favourable market environment in this way, Bayer asserted it was making steps to increase the firm’s liquidity reserve.

The fixed bond, which has a maturity of 5.5 years, was issued by Bayer Capital and priced at 99.4 per cent.

Commenting, the company said: “The bond issue met with considerable interest in the capital markets, evidenced above all by the fact that it was oversubscribed more than five times.”

Last week, the Food and Drug Administration met to discuss Bayer’s rivaroxaban ? a drug for the prophylaxis of deep vein thrombosis and pulmonary embolism in patients undergoing hip or knee replacement surgery.

Looking at the available clinical data, the organisation’s advisory committee voted 15 to two in favour of the medication’s benefits compared to its risks.

Dr Kemal Malik, member of the Bayer HealthCare executive committee and chief medical officer, commented he was pleased with the panel’s discussion and decision.

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