9 October 2019: Successful bond issue for Bekaert
On 9 October 2019, Bekaert announced 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 subscription period for this new issue started on 11 October 2019.
Bekaert was able to raise the maximum amount of € 200 million in one day and, as a result, has agreed with BNP Paribas Fortis, ING and KBC, the joint lead managers, to terminate the subscription period early on 11 October at 5:30 p.m. CET.
82.5% of the Bonds have been placed with retail investors and 17.5% of the Bonds with qualified investors. BNP Paribas Fortis has placed 27.5%, ING 27.5% and KBC 27.5% of the Bonds with retail investors.
The Bonds (ISIN BE0002673540) will be issued on 25 October 2019 and listed on the regulated market of Euronext Brussels. The expected payment date will be 25 October 2019.
17 June 2019: Bekaert successfully issues € 320.5 million Schuldschein loan
Bekaert has successfully issued a Schuldschein loan for a total amount of € 320.5 million, above the initial target of € 250 million. The Schuldschein was issued to partially refinance the bridge loan which the company entered into in October 2018.
The Schuldschein has maturities of 4, 6 and 8 years, with both fixed and variable interest rates. The transaction was conducted with an average interest margin of approximately 1.5% and will enable Bekaert to extend its average debt maturity profile as well as its investor base. All debt instruments of Bekaert are covenant-free.
BNP Paribas and ING acted as Joint Lead Arrangers of the Schuldschein. KBC Bank was Co-Lead Arranger.