VILMORIN & CIE Vilmorin & Cie has just successfully completed a private placement of the "Schuldschein" type (private placement subject to German law), for a total of 100 million euros. This placement comprises maturities at 5, 7 and 10 years, combining fixed and variable rates.
This operation, initially planned for 75 million euros, was very largely oversubscribed (x 3.4) and raised to 100 million euros, in order to meet the strong demand from investors. It has been allocated to various investors, mainly European and Asian.
Vilmorin & Cie thus confirms its disintermediation strategy, pursuing optimization of its financial resources, after the success of its public bond issue of 450 million euros - achieved in 2014 and completed by a tap in 2015 - and its inaugural "Schuldschein" achieved in 2013.
This private placement, finalized in very favorable conditions, will enable Vilmorin & Cie to considerably extend the average maturity of its debt and pursue the internationalization of its funding sources. Vilmorin & Cie thus continues to diversify its financial resources while strengthening its financial flexibility to implement its development strategy, on both the vegetable seeds and field seeds markets.
The launch and arrangement of this placement was entrusted to HSBC Trinkaus & Burkhardt AG and Natixis.
COMING DISCLOSURES:
Tuesday April 25, 2017(1): sales at the end of the third quarter 2016-2017
Monday July 31, 2017(1): sales for the fiscal year 2016-2017
Wednesday October 18, 2017(1): results for the fiscal year 2016-2017
(1) Disclosure after trading on the Paris stock market.
FOR ANY FURTHER information:
Daniel JACQUEMOND
Chief Financial Officer
daniel.jacquemond@vilmorin.info
Valérie MONSÉRAT
Head of Financial Communication and Investor Relations
valerie.monserat@vilmorin.info
Tel: + 33 (0)4 73 63 44 85
Vilmorin & Cie, the 4th largest seed company in the world, develops vegetable and field seeds with high added value, contributing to meeting global food requirements.
Accompanied by its reference shareholder Limagrain, an international agricultural cooperative group, Vilmorin & Cie's strategy for growth relies on sustained investments in research and international development to durably strengthen its market shares on promising world markets.
True to its vision of sustainable development, Vilmorin & Cie ensures its achievements fully respect its three founding values: progress, at the heart of its beliefs and its mission, perseverance, inherent to farming and the seeds business, and cooperation, in the fields of science, industry and commerce.
For further information: www.vilmorin.info
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: VILMORIN & CIE via Globenewswire
