Closing of Fortis Finance voluntary bid on EUR 1.0 billion of
outstanding debt securities
(Thomson Reuters ONE) - On 8 November 2009, Fortis Finance N.V. launched a voluntary bid incash on its remaining outstanding debt under its European Medium TermNotes (EMTN) programme as well as on the Inflation Linked Notes whichremained outstanding. These notes were predominantly issued tofinance the investments of the Fortis Group in its insurance andbanking operations, in the event these investments were not financedby equity. The bid was part of Fortis' plan to proactively manage itslegacy issues.As of 30 September 2008 the total outstanding debt of Fortis FinanceN.V. amounted to EUR 9.3 billion. On 8 December 2008 Fortis confirmedthat, under the terms of the notes and given the structural changesto the Fortis Group, holders of Fortis Finance notes would have theopportunity to demand the early redemption of their notes. Mainly asa consequence of early redemptions, the total debt position had beenreduced to EUR 973 million at the launch of the bid.The acceptance period of the bid was opened on 10 November and closedon 30 November. As a result of the bid, Fortis Finance will redeem anadditional EUR 52.7 million on 11 December 2009, the date of thepayment of the bid price under the terms of the bid.The results of the bid per series of notes can be found onhttp://www.holding.fortis.com/Debtinvestors/index.asp.As it appears that not all note holders may have been aware of theirrights to request an early redemption, Fortis decided to launch thebid, which ensured that all note holders had the opportunity to offertheir notes for early redemption on the same conditions announced on8 December 2008. The prospectus also clarified, to the extent thatthis may have been unclear, that Fortis Finance note holders areexposed to the credit profile of Fortis, and not to the one of FortisBank NV/SA, which is now part of BNP Paribas. The limited response tothe bid by the remaining retail holders of these notes and theirdecision to retain the notes indicate that they feel confident intheir position.After the closing of the bid, holders of the notes continue to beable to redeem their notes according to a pre-determined cycle ofcut-off dates. The next cut-off date for the last monthly cycle is 14December 2009 (with settlement on 21 December). From 2010 on, Fortiswill apply quarterly cycles, whereby the cut-off dates have been setat the second Monday of respectively March, June, September andDecember, with settlement 7 days later. The first cut-off date in2010 is 8 March 2010 (with settlement on 15 March).The takeover bid is only made in Belgium, the Netherlands andLuxembourg. This press releasedoes not constitute a public offering to purchase or sell nor arequest by anyone in anyjurisdiction where such a public offering or request is not permittedor by any person for whomit is unlawful to make such a public offering or request or to anyperson to whom it is unlawfulto make such a public offering or request. No action has been taken(nor shall steps be taken)outside Belgium, the Netherlands or Luxembourg to enable a publicoffering in any jurisdictionwhere action would be required for that purpose. Accordingly, thispress release may not besupplied to the public in any jurisdiction outside Belgium, theNetherlands or Luxembourgwhere a registration, qualification or any other obligation is inforce or would be with regard toa public offering to purchase or sell. Any failure to comply withthese restrictions mayconstitute a violation of the financial laws and regulations in otherjurisdictions.Fortis consists of (1) a 75% ownership of AG Insurance, (2) FortisInsurance International, (3) a 45% stake in Royal Park Investments -a structured credit portfolio entity - and (4) financial assets andliabilities of various financing vehicles. AG Insurance is theoverall market leader in Belgium and the pre-eminent providerof services in the Employee Benefits sector. The internationalinsurance activities (Fortis Insurance International) are located inthe UK, where Fortis is the third largest player in the market forprivate car insurance, France, Hong Kong, Germany, Turkey, Russia,Ukraine and joint ventures in Luxembourg (Life), Portugal, withMillenniumbcp Fortis being a clear market leader, China, Malaysia,India and Thailand. Fortis currently employs over 10,000 people.Press Contacts:Brussels: +32 (0)2 565 22 66Investor Relations:Brussels: +32 (0)2 565 53 78 Utrecht: +31 (0)30 226 65 66http://hugin.info/134212/R/1359340/331303.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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" alt="Motion Network Holding Plc – Financial Statements & Annual General MeetingDatum: 04.12.2009 - 17:32 Uhr
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