Solvay successfully launches 1.2 billion ? perpetual hybrid bond issue
(Thomson Reuters ONE) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
Brussels, November 4, 2013 --- Solvay announces today that it has successfully
launched a hybrid bond issue worth 1.2 billion ?, to further strengthen the
Groups balance sheet.
The hybrid bond issue is split across two perpetual tranches:
A first tranche of 700 million ? with a first call date on May 12, 2019 and a
coupon of 4.199% until this date, with a reset every 5 years thereafter. A
second tranche of 500 million ? with a first call date on November 12, 2023 and
a coupon of 5.425% until this date, with a reset every 5 years thereafter.
The Notes will rank junior to all senior debt and will be recorded as equity
(and coupons will be recorded as dividends) pursuant to IFRS. They will also
receive an intermediate equity content from S&P and Moody's (50% of the Notes
will be treated as equity).
"We are very pleased with the outcome of this transaction, which is a testimony
of the market's wide recognition of the Group's successful execution of its in-
depth transformation," said Karim Hajjar, Solvay's Chief Financial Officer.
"This issue further strengthens Solvay's capital structure following the
acquisition of Chemlogics, and maintains liquidity at cautious levels ahead of
upcoming large debt maturities".
This announcement does not contain or constitute an offer of, or the
solicitation of an offer to buy or subscribe for, securities to any person in
Australia, Canada, Japan, or the United States or in any jurisdiction to whom or
in which such offer or solicitation is unlawful. The securities referred to
herein may not be offered or sold in the United States or to any U.S. person
absent registration under the U.S. Securities Act of 1933, as amended (the
Securities Act) or another exemption from, or in a transaction not subject to,
the registration requirements of the Securities Act. Subject to certain
exceptions, the securities referred to herein may not be offered or sold in
Australia, Canada or Japan or to, or for the account or benefit of, any
national, resident or citizen of Australia, Canada or Japan. The offer and sale
of the securities referred to herein has not been and will not be registered
under the Securities Act or under the applicable securities laws of Australia,
Canada or Japan. There will be no public offer of the securities in the United
States.
+------------------------------------------------------------------------------+
|As an international chemical group, SOLVAY assists industries in finding and|
|implementing ever more responsible and value-creating solutions. The Group is|
|firmly committed to sustainable development and focused on innovation and|
|operational excellence. Solvay serves diversified markets, generating 90% of|
|its turnover in activities where it is one of the top three worldwide. The|
|group is headquartered in Brussels, employs about 29,000 people in 55 |
|countries and generated 12.4 billion euros in net sales in 2012. Solvay SA|
|SOLB.BE) is listed on Nyse Euronext in Brussels and Paris (Bloomberg: SOLB.BB|
|- Reuters: SOLBt.BR). |
+------------------------------------------------------------------------------+
Lamia Narcisse Caroline Maria Alcon GEOFFROY Edward Mackay
Relations Presse Jacobs Relations RASKIN Relations
+33 1 53 56 59 62 Relations Investisseurs Relations Investissseurs
Presse +32 2 264 1984 Investisseurs +32 2 264 3687
+32 2 264 1530 +32 2 264 1540
To read this release in PDF:
http://hugin.info/133981/R/1740483/584530.pdf
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originality of the information contained therein.
Source: Solvay S.A. via Thomson Reuters ONE
[HUG#1740483]
Unternehmensinformation / Kurzprofil:
Datum: 04.11.2013 - 19:31 Uhr
Sprache: Deutsch
News-ID 312417
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Town:
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Kategorie:
Business News
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