Debt and credit rating
Credit rating
Find hereafter Solvay credit ratings, awarded by Standard & Poor’s & Moody’s, resulting from transparent and regular discussions with the leading rating agencies and a comprehensive analysis of all available information.
entity | Rating agency | Rating | Rating outlook | date | Additional comment |
Solvay SA (EssentialCo) | Moodys | Baa2 | Under review for downgrade | 16/06/2023 | Review expected |
Solvay SA (EssentialCo) | S&P | BBB | Negative | 16/06/2023 | Downgrade expected |
Syensqo (SpecialtyCo) | Moodys | Baa1 | stable | 16/06/2023 | |
Syensqo (SpecialtyCo) | S&P | BBB+ | stable | 16/06/2023 | Preliminary rating |
Bond issuance
Solvay capital structure consists of net debt and equity including perpetual hybrid bonds. Find here the nominal, coupon, maturity length of Solvay bonds as well as related documentation (prospectus, press releases etc). The majority of the bonds are listed on the Luxembourg Stock Exchange.
* Maturity to first call
Nominal | Coupon | Maturity length | Initial maturity | ISIN code | |
Hybrid bond (equity IFRS) | €300 million | 4.25% | 5.25 years | 2024 Repaid on Dec 4, 2023 | BE6309987400 |
Hybrid bond (equity IFRS) | €500 million | 2.5% | 5.5 years* | 2025* Transfer to SpecialtyCo | BE6324000858 |
Senior EUR note | €500 million | 2.75% | 12 years | 2027 Transfer to SpecialtyCo | BE6282460615 |
Senior EUR note | €600 million | 0.50% | 10 years | 2029 Repaid on Oct 9, 2023 | BE6315847804 |
Solvay SA bonds on the Luxembourg stock exchange
Prospectus
* Maturity to first ca
Nominal | Coupon | Maturity length | Initial maturity | ISIN code | |
Hybrid bond (equity IFRS) | €500 million | 5.425% | 10 years* | 2023* Repaid on Nov 13, 2023 | XS0992293901 |
Hybrid bond (equity IFRS) | €500 million | 5.869% | 8.5 years* | 2024* Repaid on Sept 8 & 13, 2023 | XS1323897725 |
Solvay Finance SA (France) on the Luxembourg stock exchange
Prospectus
Nominal | Coupon | Maturity length | Initial maturity | ISIN code | |
Senior USD note | €800 million | 4.45% | 10 years | 2025 Repaid Nov 15, 2023 | US834423AB16 |
Solvay Finance (America) on the Luxembourg stock exchange
Prospectus
Nominal | Coupon | Maturity length | Initial maturity | |
Senior USD note | $163 million | 3.95% | 11 years Transfer to SpecialtyCo | 2025 |
Related press release
*fully repaid after the tender offer and clan-up call exercised in September 2020.
Issuer | Nominal | Coupon | Maturity | Redemption | |
| Senior USD note | Cytec Industries Inc. | $196 million | 3.5% | 2023 | 2022 |
| Senior EUR note | Solvay S.A. (Belgium) | €750 million | 1.625% | 2022 | 2022 |
Hybrid bond (equity IFRS) | Solvay Finance SA (France) | €500 million* | 5.12% | 2021 | 2020 |
| Senior USD note | Solvay Finance (America) | $800 million | 3.40% | 2020 | 2019 |
Senior USD note | Rhodia SA (France) | $400 million | 6.88% | 2020 | 2014 |
Hybrid bond (equity IFRS) | Solvay Finance SA (France) | €700 million | 4.20% | 2019 | 2019 |
Senior EUR note | Rhodia SA (France) | €500 million | 7% | 2018 | 2014 |
EMTN EUR note | Solvay SA (Belgium) | €500 million | 4.625% | 2018 | 2017/2018 |