Barry Callebaut successfully prices USD 400 million 5.5% senior notes due 2023
(Thomson Reuters ONE) -
Barry Callebaut /
Barry Callebaut successfully prices USD 400 million 5.5% senior notes due 2023
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* Barry Callebaut announces the successful pricing of USD 400 million 5.5%
senior Notes due 2023
Zurich/Switzerland - June 13, 2013 - Barry Callebaut AG announced today the
successful pricing of USD 400 million 5.5% senior notes due 2023 (the "Notes")
with estimated gross proceeds totalling USD 392.5 million. The remaining amount
will be financed through the partial funding of an existing bridge loan.
The proceeds of the offering will be used to fund a portion of the consideration
in respect of the previously announced acquisition of the Cocoa Ingredients
Division of Petra Foods for USD 950 million (subject to customary closing
adjustments).
In light of the volatility in the debt markets and the pricing of the bonds at a
coupon higher than expected, the Company decided to reduce the amount from USD
600 million to USD 400 million.
The Notes will be due June 15, 2023 with a coupon of 5.5%. The Notes are
unsecured and rank pari passu with the existing revolving credit facility and
the existing notes.
The proceeds will be deposited into an escrow account upon closing until the
satisfaction of certain conditions set forth in an escrow agreement, including
the closing of the acquisition.
***
Contacts:
for investors and financial analysts: for the media:
Evelyn Nassar Raphael Wermuth
Head of Investor Relations Head of Media Relations
Barry Callebaut AG Barry Callebaut AG
Phone: +41 43 204 04 23 Phone: +41 43 204 04 58
evelyn_nassar(at)barry-callebaut.com raphael_wermuth(at)barry-callebaut.com
This press release does not constitute or form a part of any offer or
solicitation to purchase or subscribe for securities in the United States. The
Notes have not been and will not be registered under the U.S. Securities Act of
1933, as amended (the "Securities Act") or with any securities regulatory
authority of any state or other jurisdiction in the United States, and may not
be offered or sold, directly or indirectly, within the United States or to, or
for the account or benefit of, U.S. persons, as such term is defined in
Regulation S under the Securities Act ("Regulation S"), except pursuant to an
exemption from or in a transaction not subject to the registration requirements
of the Securities Act. In the United States, this offering is being made only to
"qualified institutional buyers" (as defined in Rule 144A of the Securities Act)
in compliance with Rule 144A under the Securities Act ("Rule 144A"). The Notes
are being offered and sold outside the United States to non-U.S. persons in
"offshore transactions" as defined in and in accordance with Regulation S. Barry
Callebaut does not intend to register any portion of the offering in the United
States.
The distribution of this document in certain countries may constitute a breach
of applicable law. The information contained in this document does not
constitute an offer of securities for sale in the United States, Canada, Japan
or Australia.
The complete news release can be downloaded from the following link:
Press Release:
http://hugin.info/100441/R/1709271/566532.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Barry Callebaut via Thomson Reuters ONE
[HUG#1709271]
Unternehmensinformation / Kurzprofil:
Datum: 13.06.2013 - 20:15 Uhr
Sprache: Deutsch
News-ID 269713
Anzahl Zeichen: 4458
contact information:
Town:
Zurich
Kategorie:
Business News
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