Successful Bond Issue for Bekaert - Bekaert.com

Successful Bond Issue for Bekaert



09-Oct-2020

Press release

Summary & download

Early closure of the subscription period

On 7 October 2020, 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 9 October 2020.

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 9 October at 5:30 pm.

 

Taoufiq Boussaid, CFO of Bekaert: “The fast and successful subscription of the bond is a signal of confidence in the solid reputation and strength of Bekaert. We thank our investors for their trust and will use the proceeds of the bond to further improve our healthy balance sheet and debt maturity profile.

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.

75% of the Bonds have been placed with retail investors and 25% of the Bonds with qualified investors.  BNP Paribas Fortis has placed 25%, ING 25% and KBC 25% of the Bonds with retail investors.

The Bonds (ISIN BE0002735166) will be issued on 23 October 2020 and listed on the regulated market of Euronext Brussels. The expected payment date will be 23 October 2020.


 


 

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