DEME launches successful first bond issue on NYSE Alternext
Brussels, 14 February 2013 - NYSE Euronext (NYX) today announced a successful 200 million bond issue on NYSE Alternext by DEME, the Belgian dredging, environmental and marine engineering group. The company is the first issuer of bonds on NYSE Alternext in Brussels, a market designed for SMEs with more flexible listing requirements.
DEME has won a prominent position on the world market in a number of highly specialized and complex hydraulic disciplines. The Group can look back on nearly 150 years of experience in its core dredging and land reclamation activities and hydraulic engineering. Today, the company is active in over 90 different countries and has a permanent workforce of 4,200 dedicated people. DEME companies can rely on a dredging fleet consisting of 90 main vessels backed by a broad range of auxiliary equipment. In 2011 at Group level a turnover amounting to 1.766 billion was generated.
The bonds, issued by DEME on 6 years with a maturity date on 14 February 2019, have been entirely subscribed on the first day of the subscription period for the maximum amount of 200 million. Consequently, the subscription period has been closed early. The DEME bonds, priced at a nominal of 1000, will generate an annual interest of 4.145%. paid every 14 February starting next year.
"We are delighted with the success of DEME's bond issue on NYSE Alternext. Our tailor-made market for small and mid-caps offers a solution suited to the needs of SMEs seeking capital," said Alain Baetens, Head of Listings Belgium at NYSE Euronext Brussels.
"Especially for SMEs, the engine of our Belgian economy, it is vital to be able to raise capital for future growth. NYSE Euronext works closely on continuous improvement to fine-tune the structure of the bond offering and give greater visibility to issues by SMEs,"added Vincent Van Dessel, Chairman and CEO of NYSE Euronext Brussels.
BNP Paribas Fortis, ING Belgium and KBC Bank acted as joint lead managers for the issue of this bond. Belfius Bank, Econopolis and Bank Delen acted as co-lead managers.
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The Belgian dredging and environmental group DEME is a conglomerate of enterprises whose roots were established more than a century and a half ago. The group is specialized in deepening and maintenance dredging; port construction and port expansion; providing services to the oil and gas industry; wreckage clearance; deep sea operations; construction of offshore wind farms; and a wide range of environmental activities - from water treatment to sludge recycling and from soil remediation to the treatment of both lightly and heavily contaminated sedimentation. DEME operates a modern and multi-functional fleet of 90 large dredgers and some 200 auxiliary vessels. The company employs 4,200 people. The Group is active worldwide - in 2011 it reported a turnover of EUR 1.766 billion and was active in more than 50 countries on all continents. Its current investment programme in high-tech equipment will enable DEME to meet future challenges with an ultra-efficient and very modern fleet.
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