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Corbion N.V. — Capital/Financing Update 2010
Sep 6, 2010
3826_iss_2010-09-03_7bd30b56-fe06-45a4-a7e8-9f201afe3b5c.pdf
Capital/Financing Update
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CSM nv Corporate Communications
Nienoord 13 1112 XE Diemen PO Box 349 1000 AH Amsterdam the Netherlands
T +31 (20) 590 6320
I www.csmglobal.com
Press Release
CSM signed USD 300 million US Private Placement Notes
date Diemen, the Netherlands, September 3, 2010
CSM has signed a US Private Placement Notes program with 11 institutional investors in the United States and United Kingdom. The issuance of USD 300 million under this program consists of three tranches with maturities of 5, 7 and 10 years, with a weighted average period of 7.2 years and a weighted average interest of 4.1%.
The proceeds will be made available by the investors on October 28, 2010.Part of the proceeds will be used to fully repay the borrowings under the USD 385 Revolving Credit Facility, maturing July 2011 and to reduce the borrowings under the EUR 700 million Revolving Credit Facility with a remaining tenor until July 2014.
With this program CSM continues to have a solid balance sheet with ample headroom under the available Revolving Credit Facilities to accommodate further growth.
BofA Merrill Lynch and Barclays Capital acted as Bookrunners and Placement Agents for the transaction.
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For more information, please contact:
Press: Eva Lindner, Communication Director, Tel. +31 20 5906320 Analysts: Ian Blackford, Investor Relations Manager, Tel. +31 (0)20 5906349 / cell phone +44 (0)7767 227506
Background information:
CSM is the largest supplier of bakery products worldwide and is global market leader in lactic acid and lactic acid derivatives. CSM produces and distributes an extensive range of bakery products and ingredients for artisan and industrial bakeries and for in-store as well as out-of-home markets. It also produces a variety of lactic acid applications for the food, chemical and pharmaceutical industries. CSM operates in business-to-business markets throughout Europe, North America, South America, and Asia, generates annual sales of € 3 billion and has a workforce of around 10,000 employees in 25 countries. CSM is listed on NYSE Euronext Amsterdam. For more information: www.csmglobal.com