Earnings Release • May 23, 2014
Earnings Release
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Vilmorin & Cie SA Public limited company with Board of Directors, with a capital of 288 833 642.75 Euros Head Office: 4, Quai de la Mégisserie – F-75001 PARIS SIREN Paris 377 913 728 Fiscal year from July 1st to June 30th Euronext Paris (Compartment A) – Eligible for Deferred Settlement Order Indices: SBF 120, CAC Mid & Small, CAC All-Tradable, CAC All Share
May 23, 2014
On May 22, 2014, Vilmorin & Cie completed an inaugural public bond issue for a total of 300 million Euros, maturing in 7 years.
Vastly oversubscribed, this operation was allocated to various European investors (insurance companies, pension funds, fund managers, etc.), most of them being French, German and British. This unrated bond issue was achieved in excellent conditions (mid-swap + spread of 133 bps), and thus proposing a coupon of 2.375%.
The bond will be admitted for trading on the regulated market of Euronext Paris as of May 26, 2014 (ISIN code: FR0011921881). The prospectus concerning this operation, as approved by the French financial markets authority, AMF, can be consulted on the AMF website, and that of Vilmorin & Cie: www.vilmorin.info.
This operation was achieved in collaboration with BNP Paribas and HSBC, who intervened as coordinators and bookrunners.
At the same time as its bond issue, Vilmorin & Cie has just finalized the refunding of its existing bank loan, initially due to mature in October 2015.
Structured as a revolving credit facility, the new loan matures after 5 years (due date May 2019) and also involves two extension options, each for one year.
Finalized in highly favorable market conditions, this new syndicated bank loan provides for greater financial flexibility.
The transaction was made in the form of a club deal, with a banking syndicate comprising ten French and international relationship banks.
After the success of its private placement of the "Schuldschein" type, for a total of 130 million Euros, made in March 2013, Vilmorin & Cie is continuing its strategy of financial disintermediation. These two operations contribute to the diversification and increased flexibility of Vilmorin & Cie's financial resources, so that, in particular, it can extend the average maturity of its debt.
They will also optimize its financial capacities, supporting the implementation of its development strategy, on both the vegetable seeds and field seeds markets.
Vilmorin & Cie's advisor for these operations was Rothschild & Cie.
Wednesday July 30, 2014 (at the end of trading on the Paris stock market): sales for the fiscal year
Tuesday October 7, 2014 (at the end of trading on the Paris stock market): results for the fiscal year
Wednesday November 5, 2014 (at the end of trading on the Paris stock market): sales for the 1st quarter 2014-2015
Vilmorin & Cie develops vegetable and field seeds with high added value to better meet global food requirements.
Accompanied by its reference shareholder, Limagrain, an international agricultural co-operative group, Vilmorin & Cie is currently the fourth largest seed company in the world.
True to its vision of sustainable development, Vilmorin & Cie relies on ongoing investments in research and international growth to strengthen its market shares. An ambition that is driven by its corporate culture which is based on the sharing of knowledge, quality of life and respect for the needs of mankind.
Daniel JACQUEMOND Valérie MONSERAT Chief Financial Officer Head of Financial Communication [email protected] and Investor Relations
Tel: + 33 (0)4 73 63 44 85 Fax: + 33 (0)4 73 63 41 80 Website: www.vilmorin.info
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