NV Bekaert SA to issue 7-year bonds up to € 200 million
Bekaert announces today the launch of an issuance of bonds with a maturity of 7 years for a total global amount of up to € 200 million (the “Bonds”). The Bonds will be issued in a public offering in Belgium open to retail investors and, to a lesser extent, to qualified investors, with a subscription period from Friday 11 October 2019 until Friday 18 October 2019 (subject to early close). BNP Paribas Fortis is the Global Coordinator of the offering and will act as Joint Lead Manager for the transaction together with ING Bank and KBC. The Bonds will be listed on the regulated market of Euronext Brussels.
The key features of the Bonds are listed below:
| Issuer | NV Bekaert SA (incorporated under Belgian law) |
| Denomination | The Bonds are available in denominations of € 1 000 |
| Form and status | Unsubordinated dematerialized securities, subject to Belgian law. The Bonds constitute direct, unconditional, unsubordinated and, subject to the provisions of the negative pledge, unsecured obligations of the Issuer. |
| Offer period | From 11 October 2019 at 9.00 am CET until 18 October 2019 at 5.30 pm CET (subject to early close) |
| Issue and payment date | 25 October 2019 |
| Size | Up to € 200 million |
| Annual coupon | 2.75% (gross) paid annually on 25 October |
| Issue price | 101.875% (including a commission of 1.875% to be borne by retail investors1) |
| Gross Actuarial Yield at issue price | 2.455% (assuming that the Bonds will be held until the Maturity Date) |
| Net Actuarial Yield after 30% withholding tax | 1.639% (assuming that the Bonds will be held until the Maturity Date) |
| Scheduled Maturity Date | 25 October 2026 |
| Repayment | 100% per denomination |
| Rating | The Bonds will not be rated |
| ISIN Code | BE0002673540 |
1 A different commission is applicable for qualified investors, as set out in the Prospectus.
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