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Results of the public exchange offer on the bonds maturing on 16 April 2014
Exchange Offer Terms
The holders of the existing bonds had the opportunity to exchange their existing bonds for 7-year bonds with a gross coupon of 4.75% to be issued on 17 October 2013 and maturing on 17 October 2020 (ISIN Code BE0002206721), in an exchange ratio of 1 to 1.
The net actuarial yield of the new bonds for individuals who are tax resident in Belgium (taking into account the direct taxes due by investors, including the Belgian withholding tax of 25%) amounts to 3.085% per annum (calculated in economic terms on the basis of a reference market price of the existing bonds of 102.963% on 18 September 2013 and under the assumption that the new bonds will be held from their issue date until their maturity date, at which time they will be repaid at 100% of their nominal value).
Results of the Exchange Offer
At the end of the exchange period on 7 October 2013, 45 614 existing bonds were tendered into the exchange offer, representing an aggregate nominal amount of € 45 614 000. The exchange offer will not be re-opened. The existing bonds exchanged in the exchange offer will be cancelled by NV Bekaert SA.
As a consequence, 104 386 existing bonds will remain outstanding. Existing bonds that were not tendered in the exchange offer will remain listed on the regulated market of NYSE Euronext Brussels until their final maturity date.
The 45 614 new bonds, representing an aggregate nominal amount of € 45 614 000, will be issued on 17 October 2013. The new bonds will be listed on the regulated market of NYSE Euronext Brussels.
The accrued but unpaid interest since 16 April 2013 on the existing bonds exchanged in the exchange offer, will be paid on 17 October 2013.
In this operation, BNP Paribas Fortis, ING Bank and KBC Bank act as dealer managers. KBC Bank also acts as global coordinator.
NV Bekaert SA is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release in light of new information, future events or otherwise. NV Bekaert SA disclaims any liability for statements made or published by third parties and does not undertake any obligation to correct inaccurate data, information, conclusions or opinions published by third parties in relation to this or any other press release issued by NV Bekaert SA.
THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.
This announcement and the prospectus have been prepared in connection with a public exchange offer of bonds in Belgium and the Grand Duchy of Luxembourg. The exchange offer was not addressed to any person who is not (a) located in Belgium or the Grand Duchy of Luxembourg or (b) a "qualified investor" within the meaning of Directive 2003/71/EC, as amended, located in a member state of the European Economic Area who is authorized to accept the exchange offer in such member state. The distribution of this announcement and any other information relating to the exchange offer in certain jurisdictions may be restricted by law. Any persons reading this warning should inform themselves of and observe any such restrictions.
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