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OCI N.V. — Capital/Financing Update 2016
Aug 26, 2016
3869_iss_2016-08-26_f493ca8a-3ce8-4fe9-a029-fc15d6241a6a.pdf
Capital/Financing Update
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Press Release
Amsterdam, The Netherlands / 26 August, 2016
OCI N.V. Receives Further Cash Proceeds of \$232 Million
OCI N.V. (Euronext: OCI) today announced that it has sold and monetised its remaining outstanding shareholder loans of \$169 million in Natgasoline, which were securitised in the form of Pass-Through Revenue Bonds issued by Public Finance Authority, a municipal conduit issuer, and underwritten by Citigroup Global Markets Inc. This transaction is in addition to the monetisation of over \$300 million of shareholder loans to Natgasoline over the last few months, through the tax exempt bond issuance and the Natgasoline subscription agreement.
OCI N.V. is also pleased to announce that its Algerian subsidiary, Sorfert, has completed all requirements for payment of 2015 dividends and Sorfert's lead bank has processed the remittance instructions. OCI N.V.'s share of 2015 dividends is \$70 million of which it will receive \$63 million net of withholding taxes.
The total net proceeds to OCI of \$232 million from the above-mentioned transactions, combined with the fund raisings and refinancing of OCI Nitrogen as announced on 18 August 2016, bring the total cash proceeds to OCI N.V. between May and August 2016 to more than \$1.3 billion, significantly strengthening OCI N.V.'s balance sheet and providing financing for the pursuit of its growth initiatives.
Press Release
About OCI N.V.
OCI N.V. (Euronext: OCI) is a global producer and distributor of natural gas-based fertilizers & industrial chemicals based in the Netherlands. OCI produces nitrogen fertilizers, methanol and other natural gas based products, serving agricultural and industrial customers from the Americas to Asia. OCI ranks among the world's largest nitrogen fertilizer producers, and can produce more than 8.4 million metric tons of nitrogen fertilizers and industrial chemicals at production facilities in the Netherlands, the United States, Egypt and Algeria. OCI is listed on Euronext in Amsterdam.
For additional information contact:
OCI N.V. Investor Relations Department:
Hans Zayed Director Email: [email protected]
Tel: +31 (0) 6 18 251 367
For additional information on OCI:
OCI stock symbols: OCI / OCI.NA / OCI.AS / OCINY
Honthorststraat 19 1071 DC Amsterdam The Netherlands