Capital/Financing Update • Jan 13, 2022
Capital/Financing Update
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO CANADA, JAPAN, AUSTRALIA OR THE UNITED STATES OR IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS PRESS RELEASE
Wendel has successfully placed today a €300 million bond issue maturing in January 2034 and bearing interest at 1.375%. This is the lowest coupon Wendel has ever obtained on a twelve-year maturity.
The issue was very well received by investors and was more than 2.5 times oversubscribed. Bonds were primarily placed with French (49%), German (30%) as well as British (16%) investors.
Proceeds of this issue will be used for general corporate purposes. This transaction will enable Wendel to extend its average weighted debt maturities to 6.1 years.
| Total amount of the issue | €300 million |
|---|---|
| Maturity | January 18, 2034 |
| Issue price / Reoffer price | 99.441% |
| Yield to maturity | 1.426% |
| Coupon | 1.375% |
| Listing | Euronext Paris |
Crédit Industriel et Commercial, Crédit Agricole CIB, Goldman Sachs Bank Europe SE, HSBC and Natixis are acting as active bookrunners for the Bond Issue and BNP Paribas, Mediobanca and Societe Generale are acting as passive bookrunners.
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 2034 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 2034 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 2034 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.
2021 Full Year Results - Publication of NAV as of December 31, 2021 (pre-market release)
Q1 2022 Trading update - Publication of NAV as of March 31, 2022 (pre-market release)
H1 2022 results - Publication of NAV as of June 30, 2022, and condensed Half-Year consolidated financial statements (pre-market release).
Q3 2022 Trading update - Publication of NAV as of September 30, 2022 (pre-market release).
Wendel is one of Europe's leading listed investment firms. The Group invests in Europe and North America in companies which are leaders in their field, such as Bureau Veritas, Tarkett, Cromology, Stahl, IHS Towers, Constantia Flexibles, and Crisis Prevention Institute. Wendel often plays an active role as a controlling or significant shareholder in its portfolio companies. Wendel seeks to implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Wendel is listed on Eurolist by Euronext Paris. Standard & Poor's ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019
Moody's ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018 Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.
For more information: wendelgroup.com
Follow us on Twitter @WendelGroup
Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24 Olivier Allot: +33 (0)1 42 85 63 73 [email protected] [email protected]
Caroline Decaux: +33 (0)1 42 85 91 27 Lucile Roch: +33 (0)1 42 85 63 72 [email protected] [email protected]
Alexis de Maigret / Jawad Khatib: +33 (0)6 12 66 22 49 Vae Solis Communications [email protected]
Todd Fogarty: + 1 212 521 4854 Kekst CNC [email protected]
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