Solvay successfully issues its inaugural USD 1.6 billion of USD-denominated senior bonds
(Thomson Reuters ONE) -
Brussels, December 1, 2015, 08:30 --- Solvay announces today that it has
successfully priced two series of USD-denominated senior bonds, issued by Solvay
Finance (America), LLC, and guaranteed by Solvay SA, with a combined principal
amount of USD 1.6 billion, to finance part of the intended acquisition of U.S.-
based Cytec. The bonds comprise:
* A first series of bonds with a principal amount of USD 800 m, due
December 2020, with a coupon of 3.40%, payable semi-annually.
* A second series of bonds with a principal amount of USD 800 m, due
December 2025, with a coupon of 4.45%, payable semi-annually.
These bonds are expected to be settled on December 3, 2015.
On July 28, 2015, Solvay entered into a definitive agreement with U.S.-based
Cytec to acquire 100% of its share capital for USD 75.25 per share in cash. The
acquisition has been approved by Cytec's shareholders, but is still subject to
customary closing conditions, including regulatory approvals. The transaction is
expected to close before the current year-end.
This issue follows the pricing of euro-denominated senior and hybrid bonds in a
combined principal amount of ? 3.25 billion, which are expected to be settled on
December 2, 2015. In order to complete the long-term financing of the intended
Cytec acquisition, Solvay expects to undertake a ? 1.5 billion rights offering.
* * * * *
This press release does not constitute an offer to sell, or a solicitation of
offers to purchase or subscribe for, securities in the United States or any
other jurisdiction. The securities referred to herein have not been, and will
not be, registered under the Securities Act of 1933, as amended, and may not be
offered, exercised or sold in the United States or to U.S. persons absent
registration or an applicable exemption from registration requirements. There is
no intention to register any portion of the offering in the United States or to
conduct a public offering of securities in the United States.
The issue, exercise or sale of securities in the offering are subject to
specific legal or regulatory restrictions in certain jurisdictions. The Company
assumes no responsibility in the event there is a violation by any person of
such restrictions.
The information contained herein shall not constitute or form part of an offer
to sell or the solicitation of an offer to buy, nor shall there be any sale of
the securities referred to herein, in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
The Company has not authorized any offer to the public of securities in any
Member State of the European Economic Area. With respect to each Member State of
the European Economic Area and which has implemented the Prospectus Directive
(each, a "Relevant Member State"), no action has been undertaken or will be
undertaken to make an offer to the public of securities requiring publication of
a prospectus in any Relevant Member State. As a result, the securities may only
be offered in Relevant Member States (a) to any legal entity which is a
qualified investor as defined in Article 2(1)(e) of the Prospectus Directive; or
(b) in any other circumstances which do not require the publication by the
Company of a prospectus pursuant to Article 3 of the Prospectus Directive. For
the purposes of this paragraph, the expression an "offer of securities to the
public" means the communication in any form and by any means of sufficient
information on the terms of the offer and the securities to be offered so as to
enable an investor to decide to exercise, purchase or subscribe the securities,
as the same may be varied in that Member State by any measure implementing the
Prospectus Directive in that Member State and the expression "Prospectus
Directive" means Directive 2003/71/EC (and amendments thereto, including the
2010 PD Amending Directive, to the extent implemented in the Relevant Member
State), and includes any relevant implementing measure in the Relevant Member
State and the expression "2010 PD Amending Directive" means Directive
2010/73/EU.
This communication is directed only at (i) persons who are outside the United
Kingdom or (ii) in the United Kingdom, persons who have professional experience
in matters relating to investments falling within Article 19(5) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the
"Order"), or who are high net worth entities, and other persons to whom it may
lawfully be communicated, falling within Article 49(2) of the Order (all such
persons together being referred to as "relevant persons"). Any investment or
investment activity to which this communication relates will only be available
to and will only be engaged in with, relevant persons. Any person who is not a
relevant person must not act or rely on this document or any of its contents.
Follow us on twitter (at)SolvayGroup
+------------------------------------------------------------------------------+
|As an international chemical group, Solvay assists industries in finding and|
|implementing ever more responsible and value-creating solutions. Solvay|
|generates 90% of its net sales in activities where it is among the world's top|
|three players. It serves many markets, varying from energy and the environment|
|to automotive and aerospace or electricity and electronics, with one goal: to|
|raise the performance of its clients and improve society's quality of life.|
|The group is headquartered in Brussels, employs about 26,000 people in 52 |
|countries and generated 10.2 billion euros in net sales in 2014. Solvay|
|SA SOLB.BE) is listed on Euronext in Brussels and Paris (Bloomberg: SOLB.BB -|
|Reuters: SOLB.BR). |
+------------------------------------------------------------------------------+
Lamia Narcisse Caroline Jacobs Maria Alcon Geoffroy Bisser
Raskin Alexandrov
Media Relations Media Relations Investor Investor Investor
Relations Relations Relations
+33 1 53 56 59 62 +32 2 264 1530 +32 2 264 1984 +32 2 264 1540 +32 2 264 3687
To read this release in PDF:
http://hugin.info/133981/R/1969816/720350.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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: Solvay S.A. via GlobeNewswire
[HUG#1969816]
Unternehmensinformation / Kurzprofil:
Datum: 01.12.2015 - 08:30 Uhr
Sprache: Deutsch
News-ID 436567
Anzahl Zeichen: 7772
contact information:
Town:
Brussels
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 395 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Solvay successfully issues its inaugural USD 1.6 billion of USD-denominated senior bonds"
steht unter der journalistisch-redaktionellen Verantwortung von
Solvay S.A. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
