Capital/Financing Update • Nov 20, 2015
Capital/Financing Update
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Regulated information – Early closing of public retail bond offering Under embargo until Friday 20 November 2015 om 5.45 pm CET
Deceuninck NV announces today that the issuance of its retail bond is a major success. The subscription period has been closed early today. Deceuninck informed on 17 November about the possibility to subscribe to a retail bond with a seven year duration and a gross coupon of 3.75% for a minimum amount of € 40,000,000 and a maximum amount of € 100,000,000. On 20 November, the first day of the subscription, the maximum amount of € 100,000,000 has been reached. In consultation with the Global Coordinator (KBC) and the Joint Lead Managers (KBC and ING) it has been decided to close the subscription period early on Friday 20 November at 5.30 pm CET.
Since the demand exceeded the offering widely 1,5 times, investors will possibly not receive the full amount to which they subscribed. They will receive more information on this through their financial intermediary.
The obligation was issued with a coupon of 3.75%, which means a net return of 2.517% for the Belgian investor. The net result includes an allowance for the deduction of the Belgian withholding tax at a rate of 25%. If the government confirms its intention to increase the withholding tax rate to 27%, then the bond will show a net return of 2.444%.
The net result of this issuance will be used for working capital requirements, capital expenditure, general business objectives of the of Issuer including, but not restricted to, further organic growth and growth by means of takeovers and the repayment of and further reduction of the credit agreement as described in the issue prospectus.
An application was submitted for listing and trading of the bonds on Euronext Brussels.
"We are delighted with the major interest and confidence of investors in Deceuninck. After just one day the amount was subscribed at 175%. We are grateful to the investors.
Our entire staff will continue to innovate, launch growth projects and improve efficiency to allow for further profit growth.
I would like to thank all parties involved – the Deceuninck staff and the Board as well as the external partners who cooperated and turned this operation into a success."
| 25 | February | 2016 | 2015 annual results |
|---|---|---|---|
| 10 | May | 2016 | 1Q 2016 trading update |
| 10 | May | 2016 | Annual Shareholders Meeting at 11 am |
| 20 | July | 2016 | 1H 2016 results |
| 21 | October | 2016 | 3Q 2016 trading update |
End of press release
At Deceuninck, our commitment towards innovation, ecology and design provides us with a clear focus: building a sustainable home. A home that is more energy-efficient to live in and more attractive to look at. Deceuninck works worldwide with state-of-the-art materials, resulting in low maintenance, top insulating and long lasting products that can be fully recycled at end of life. Moreover, our values of Candor, Top performance and Entrepreneurship help us build a better world for our Partners and end users. Deceuninck has strong ambitions. We want to build a work environment in which people are proud to contribute, and strengthen our position within the top three market players. Alongside our ecological sustainability, Deceuninck also pursues financial sustainability.
Deceuninck employs 3400 people in 25 countries. Deceuninck has production facilities in Belgium, Chili, Croatia, Czech Republic, France, Germany, Poland, Russia, Thailand, Turkey, UK and US.
Deceuninck sales in 2014 were € 552.8 million with a net positive result of € 10.5 million.
Contact Deceuninck: Ludo Debever • T +32 51 239 248 • M +32 473 552 335 • [email protected]
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