Regulatory News:
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Tikehau Capital (Paris:TKO) has announced today that it has successfully placed a bond issue for a total amount of 500 million euros with maturity in October 2026. This issue of senior unsecured bonds is associated with a fixed annual coupon of 2.25%. Application has been made to Euronext Paris for the bonds to be admitted to trading on Euronext Paris with a prospectus approved by the Autorité des marchés financiers. Settlement-delivery is scheduled for 14 October 2019.
The issue has reached the upper end of the target range, set initially at 300 million to 500 million euros, and confirms investors' confidence in the credit quality of Tikehau Capital. It has been placed with a diversified base of around one hundred institutional investors, and has been subscribed at 70% by international investors. It may be recalled that the financial rating agency Fitch Ratings assigned Tikehau Capital an Investment Grade (BBB-) rating in January 2019, associated with a stable outlook. The bonds are also rated BBB- by Fitch Ratings.
The proceeds of this issue will be used for Tikehau Capital's general corporate purposes, and the Group also reserves the option of repaying existing credit facilities. This issue sustainably reinforces the Group's financial resources and extends the average maturity of its debt.
Characteristics of the bond issue
Total amount issued | €500m |
Maturity | 14 October 2026 |
Annual interest rate | 2.25% |
Listing | Euronext Paris |
The bond placement has been arranged by BNP Paribas and Société Générale as Global Coordinators and Joint Lead Managers, as well as by Banca IMI S.p.A., Crédit Agricole Corporate and Investment Bank and UniCredit Bank AG as Joint Lead Managers
About Tikehau Capital:
Tikehau Capital is an asset management and investment group with €23.4 bn of assets under management (as at 30 June 2019) and shareholders' equity of €3.1 bn (as at 30 June 2019). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 480 staff (as at 30 June 2019) in its Paris, London, Brussels, Madrid, Milan, Luxemburg, New York, Seoul, Singapore and Tokyo offices.
Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)
www.tikehaucapital.com
Disclaimer
This press release is for information purposes only and is not an offer to sell or subscribe securities or a solicitation of an order to purchase or subscribe securities in any jurisdiction. The securities mentioned in this press release were not and will not be offered through a public offering and no related documents will be distributed to the public in any jurisdiction.
This press release does not constitute an offer for sale of securities in the United States of America or any other jurisdiction. These securities may not be offered or sold in the United States of America unless they are registered or exempt from registration under the US Securities Act of 1933 (the "US Securities Act"), as amended. Tikehau Capital does not intend to register any of the securities mentioned in this announcement in the United States or to conduct a public offering of securities in the United States.
This press release is not a prospectus as required under Regulation (UE) 2017/1129 (the "Prospectus Regulation").
No action has been undertaken or will be undertaken to make available any Bonds to any retail investor in the European Economic Area. For the purposes of this provision:
a) the expression "retail investor" means a person who is one (or more) of the following:
i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or
ii) a customer within the meaning of Directive 2016/97/EU, as amended, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or
iii) not a "qualified investor" as defined in the Prospectus Regulation; and
b) the expression "offer" includes the communication in any form and by any means of sufficient information on the terms of the offer and the Bonds to be offered so as to enable an investor to decide to purchase or subscribe the Bonds.
Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Bonds or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Bonds or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPS Regulation.
This press release does not constitute an offer of securities in France or in any other country. The bonds have been and will only be offered and distributed to qualified investors, as defined in article 2(e) of the Prospectus Regulation, and in accordance with, Articles L.411-1 and L.411-2 of the Monetary and Financial Code, as amended.
This press release may be sent to persons located in the United Kingdom only under circumstances where section 21(1) of the Financial Services and Markets Act 2000 does not apply.
The subscription or purchase of securities of Tikehau Capital may be subject to specific legal or regulatory restrictions in certain countries. Tikehau Capital assumes no responsibility for any violation by any person of these restrictions. The distribution of this press release in certain jurisdictions may be restricted by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191009005638/en/
Contacts:
Press:
Tikehau Capital: Julien Sanson +44 20 3821 1001
Finsbury: Arnaud Salla Charles O'Brien +44 207 251 3801
press@tikehaucapital.com
Shareholders and Investors:
Louis Igonet +33 1 40 06 11 11
shareholders@tikehaucapital.com