THIS PRESS RELEASE MAY NOT BE DISSEMINATED IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN.

Wendel successfully extends its debt maturities, thereby confirming its sound financial structure:

  • Successful ?400 million bond issue, maturing in January 2021
  • New ?800 million revolving line of credit with margin calls, maturing in 2020, replacing the line maturing in 2016 and 2017

Wendel has today successfully placed a ?400 million bond issue maturing in January 2021 with a coupon of 3.75%. This is the lowest coupon Wendel has obtained on a seven-year maturity.
Wendel will use the net proceeds of the issue to finance the general needs of its investment strategy and to continue improving its financial structure.
The issue was very well received by investors and was 7.5 times oversubscribed. The bonds were placed with international investors, including UK (20%), Swiss (11%), German & Austrian (17%) and French (25%).

Characteristics:

Total amount of the issue ?400 million
Maturity January 21, 2021
Coupon 3.75%
Listing Euronext Paris
Rating Long term: BB+, stable outlook
(Standard & Poor's)

This transaction was carried out by BNP Paribas, BofA Merrill Lynch, HSBC, Natixis and SG CIB.

In addition, agreement was obtained to replace the ?875 million bank credit line with margin calls maturing in 2016 and 2017, under which ?425 million was drawn down, with a new, ?800 million revolving line with margin calls maturing in 2020 (subject to final legal documentation).

These two transactions demonstrate the confidence that bank and bond lenders have in the soundness of Wendel's financial condition.

Disclaimer

This press release does not constitute an offer of securities in the United States of America.  These securities may not be offered nor sold in the United States of America unless they are registered or exempt from registration under the US Securities Act of 1933, as amended.
This press release is an advertisement and is not a prospectus as required under Directive 2003/71/EC, as amended by the Directive 2010/73/EU (the "Directive"). A prospectus will be prepared and made available to the public, in compliance with the Directive, as part of admitting the bonds to trading on the NYSE Euronext regulated market in Paris.
This press release does not constitute an offer of securities in France or in any other country. The bonds are the subject of a private placement in France with (i) persons providing investment management services to third parties and/or (ii) qualified investors acting for their own account, as defined, and in accordance with Articles L.411-2 and D.411-1 to D.411-3 of the Monetary and Financial Code, and outside France. No prospectus related to the placement of the bonds has been approved by a competent authority of a European Economic Area Member State.
Wendel will undertake no action as part of this placement with a view to making a public offering in France or abroad.
The dissemination of this press release in any country where such dissemination could constitute a violation of applicable legislation is prohibited.
This press release may be sent to persons located in the United Kingdom only under circumstances wherein section 21 (1) of the Financial Services and Markets Act 2000 does not apply.

2014 calendar
Publication of 2013 full-year results and NAV (pre-market release) Thursday, March 27, 2014
Publication of Q1 2014 net sales (pre-market release) Tuesday, May 13, 2014
Shareholders' Meeting and publication of NAV Friday, June 6, 2014
Publication of first-half 2014 earnings (pre-market release) Thursday, August 28, 2014
Publication of Q3 2014 net sales
(pre-market release)
Friday, November 7, 2014
Investor Day Publication of NAV (pre-market release) Thursday December 4, 2014

 

About Wendel
Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Materis, Stahl and IHS in Africa. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of Van Gansewinkel Groep in the Netherlands, exceet in Germany, Mecatherm and Parcours in France, NOP in Japan and Saham Group in Africa. 
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's ratings: Long term: BB+, stable outlook; short term: B since April 24, 2013.
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" on March 23, 2012.

Press contacts
Christine Anglade Pirzadeh: + 33 (0)1 42 85 63 24
c.angladepirzadeh@wendelgroup.com:
mailto:c.angladepirzadeh@wendelgroup.com

Analyst and investor contacts
Olivier Allot: +33 (0)1 42 85 63 73
o.allot@wendelgroup.com:
mailto:o.allot@wendelgroup.com

 


Wendel successfully extends its debt maturities:
http://hugin.info/143616/R/1754392/591992.pdf



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: WENDEL via Globenewswire

HUG#1754392