Vastned Belgium NV

M&A Activity • Dec 9, 2024

Vastned Belgium has obtained commitments for the financing of EUR 345 million subject to completion of the reverse cross-border merger

In the prospect of the reverse cross-border legal merger whereby Vastned Retail N.V. (Euronext Amsterdam: VASTN), the Dutch parent company of Vastned Belgium NV (Euronext Brussels: VASTB), will merge with and into Vastned Belgium on 1 January 2025 (after fulfilment of customary conditions), Vastned Belgium NV today announces that it has obtained commitments for a total amount of EUR 345 million in credit lines (the Financing).

The Financing is intended to refinance the existing shortterm credit facilities of Vastned Retail N.V. Credit lines in the amount of EUR 352 million will expire in 2025 and will be replaced by the new credit lines, worth EUR 345 million, obtained by Vastned Belgium, in addition to the available credit lines. With this Financing, Vastned Belgium optimises the debt financing of the Vastned Group and it will have sufficient liquidity to carry out its activities in the coming years.

The term of these credit facilities varies between three (3) and a maximum of seven (7) years. The Financing will be entered into with five (5) different financial institutions on market terms and will become effective only upon completion of the envisaged merger.

Press release

Regulated information – Inside information Antwerp (BE), 9 December 2024 - 07:00 am CET

For more information: Vastned Belgium Operational Managing Director Sven Bosman sven.bosman@vastned.be +32 3 361 05 90

CFO Barbara Gheysen barbara.gheysen@vastned.be +32 3 361 05 90

About Vastned Belgium: Vastned Belgium is a public regulated real estate company (GVV) whose shares are listed on Euronext Brussels (VASTB). Vastned Belgium invests in Belgian retail real estate, more specifically in multifunctional shopping properties located in the popular shopping cities of Antwerp, Brussels, Ghent and Bruges. Furthermore, the portfolio consists of high-quality retail parks and out-of-town shops. A smaller part of the portfolio is invested in hospitality and residential units.

Legal notice: The information in this press release is not intended to be complete. This press release is for information purposes only and does not constitute an offer, or any solicitation of any offer or any invitation, to sell, buy or subscribe for any securities. Shareholders are urged to read the prospectus and other materials to be published by Vastned Belgium in connection with the merger carefully when they become available because they will contain important information about the Vastned Group and the merger. This press release is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such release, publication or distribution would be unlawful. The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, Vastned Belgium disclaims any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither Vastned Belgium, nor any of their advisors assumes any responsibility for any violation of any of these restrictions. Any shareholder of Vastned Belgium who is in any doubt as to his or her position should consult an appropriate professional advisor without delay.

Certain statements in this press release may be considered forward-looking statements. These forward-looking statements may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to the Vastned Group, based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as "anticipate," "believe," "plan," "could," "estimate," "expect," "forecast," "guidance," "intend," "may," "possible," "potential," "predict," "project" or other similar words, phrases or expressions. These forward-looking statements speak only as of the date of this press release. By their nature, forwardlooking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, and Vastned Belgium cannot guarantee the accuracy and completeness of forward-looking statements. A number of important factors, not all of which are known to Vastned Belgium or are within their control, could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, failure to satisfy completion conditions with respect to the merger on the proposed terms and timeframe, the possibility that the merger does not close when expected or at all, the response to the merger in the marketplace, the effect of the announcement or completion of the merger on the ability of the Vastned Group to retain key personnel, the occurrence of any unforeseen tax liabilities or developments in tax regimes, the ability to achieve the anticipated benefits from the merger, and the effect of general economic or political conditions. Vastned Belgium expressly disclaims any obligation or undertaking to publicly update or revise any forward-looking statements, whether as a result of new information, a change in expectations or for any other reason.