Net financial debt of the Bayer Group decreased by €2.5 billion to €31.1 billion in the third quarter of 2026 (June 30, 2026: €33.6 billion), mainly due to the €3.0 billion payment stemming from the agreement with Apollo Global Management, Inc., United States. Net financial debt also fell year on year (September 30, 2025: €32.7 billion).
In July, Bayer US Finance LLC, United States, placed bonds with a volume of US$5.0 billion (€4.4 billion) that are guaranteed by Bayer AG. The placement comprises five tranches with maturities of between 5 and 30 years and fixed interest rates of between 5.125% and 6.375% p.a.
Also in July, Bayer AG issued two additional bonds on the Chinese capital market. Known as “Panda” bonds, the issuances have a volume of CNY 3.0 billion (€386 million) and CNY 1.0 billion (€129 million), as well as maturities of three and five years and coupons of 1.9% and 2.2%, respectively.
In September, Bayer AG issued hybrid bonds with a total volume of €2.0 billion. The two tranches have a final maturity of 30 years. The first tranche in the amount of €1.0 billion with a noncall period of six years pays a coupon of 5.75%. The second tranche in the amount of €1.0 billion with a noncall period of nine years pays a coupon of 6.25%.
In August, Bayer AG repaid a bond with a volume of €750 million. In October, Bayer US Finance LLC, United States, redeemed a bond with a volume of US$1.0 billion (€0.9 billion) before maturity.
In the third quarter, Bayer AG and Bayer Corporation, United States, repaid commercial paper with a nominal volume of €318 million and US$711 million (€618 million), respectively. In addition, Bayer Corporation, United States, repaid commercial paper with a nominal volume of US$669 million (€595 million) in October.
In the third quarter, Bayer AG and Bayer US Finance LLC, United States, terminated their US$8.0 billion bank loan facility (jointly signed in February) due to the implementation of the respective financing measures. Furthermore, credit facilities available to Bayer AG totaling €1.5 billion expired.