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K+S Aktiengesellschaft issues €600M promissory notes

K+S Aktiengesellschaftsaid May 3 that it has issued promissory notes worth €600 million.

The issuance is divided into fixed and variable tranches, maturingin three years to seven years, with an average interest rate of about 1.00% perannum on all tranches.

More than 80 investors participated in the notes.

The proceeds from the issue will increase the company's financialflexibility and possibly reduce drawings against its existing credit line.

"With the emissions we strengthen our liquidity and financingstructure for the strategic development of K+S at very favorable conditions,"CFO Burkhard Lohr said in a statement.