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Simulation net debt maturity spread (March 2021)
9 October 2020: Successful bond issue for Bekaert
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.”
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.
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.
Bell Ceremony on 25 October for the retail bond issue
Bekaert was invited by Euronext Brussels for the bell ceremony at the opening the stock market of Friday 25 October 2019. This coincided with the actual issue and listing of the new Bekaert retail bonds.
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.