Cognis raises €500m to repay backers

Cognis, the German private equity-backed chemicals group, said today it is pressing ahead with plans for a 2006 flotation despite raising €500m ($659m) from a high-yield bond sale.

Arnold Kiel, the company's chief financial officer, said: "The decision to sell the bonds will remove some of the time pressure our financial investors face in realising a return on their investment."

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110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink