Successful Bond Issue for Bekaert



11-Oct-2019

Press release

Summary & download

Early closure of the subscription period

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.

In the event that the total amount of subscriptions received by a participating bank exceeds the amount of Bonds that were allotted to it, the subscriptions received by it will be reduced proportionally, i.e., the subscriptions will be scaled back proportionally, with an allocation of a multiple of € 1 000, and to the extent possible (i.e., to the extent there are not more investors than Bonds), a minimum nominal amount of € 1 000, which is the minimum subscription amount for investors. Subscribers may have different reduction percentages applicable to them depending on the financial intermediary through which they have subscribed to the bonds. The subscribers will be informed regarding the number of bonds that have been allotted to them as soon as possible after this press release.

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. 

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