Wendel has successfully placed a €500 million bond issue maturing in August 2033 and bearing interest at 3.75%.
The issue was very well received by investors and was more than 5.2 times oversubscribed.
Wendel will use the net proceeds of the issue for the financing of the exercise of its early make-whole redemption option on all of the bond bearing an interest rate of 2.50% maturing in February 2027, with an outstanding nominal amount of €500 million (ISIN FR0012516417).
This transaction will enable Wendel to extend the average maturity of its bond debt.
Features of the bond issue:
| Total amount of the issue | €500 million |
| Maturity | August 11, 2033 |
| Issue price / Reoffer price | 99.850% |
| Yield to maturity | 3.772% |
| Coupon | 3.75% |
| Listing | Euronext Paris |
Crédit Agricole CIB, Crédit Industriel et Commercial, Mediobanca, Natixis and Société Générale serve as bookrunners for the Bond issue.
Disclaimer
This press release does not constitute an offer, or an invitation to apply for, or an offer or invitation to purchase or subscribe for any securities either in the United States or in any other jurisdiction which may be subject to restrictions. 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, as amended.
This press release is an advertisement and not a prospectus within the meaning of Regulation (EU) 2017/1129, as amended (the "Prospectus Regulation"). A prospectus will be prepared and made available to the public, in compliance with the Prospectus Regulation, for the purpose of admitting the 20[35] bonds to trading on the regulated market of Euronext Paris.
This press release does not constitute an offer of securities in France or in any other country. The 20[35] bonds are the subject of a private placement in France to qualified investors as defined in Article 2(e) of the Prospectus Regulation and in accordance with Article L.411-2 of the Monetary and Financial Code, and outside France. As of the date of this press release, no prospectus related to the placement of the 20[35] bonds has been approved by a competent authority of any European Economic Area Member State.
Wendel will undertake no action as part of this placement with a view to making an offer to the public (other than to qualified investors) in France or abroad.
In the United Kingdom, this press release may be sent to qualified investors as defined in Article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 only under circumstances wherein section 21(1) of the Financial Services and Markets Act 2000 does not apply.
The dissemination of this press release in any country where such dissemination could constitute a violation of applicable legislation is prohibited.
