Successful issue of a € 300 million 10-year bond issue

Successful issue of a 10-year bond issue of 300 million euros bearing interest at 1,000%

Wendel has successfully placed a bond loan of 300 million euros maturing in June 2031 and bearing interest at 1000%.

The issue was very well received by investors and was oversubscribed approximately 3 times. The bonds were mainly placed with French (46%), German and Austrian (37%) and British (10%) investors.

The proceeds of this issuance will be used for general corporate purposes, including for the early redemption of the entire bond maturing in April 2023 in accordance with their full redemption provisions. Redemption is subject to the success of the 2031 bond issue.

These two transactions will allow Wendel to extend the maturity of its debt to 5.6 years while maintaining its nominal gross debt at € 1,600 million.

Characteristics of the bond issue:

Total amount of the issue 300 million euros
Maturity June 1, 2031
Issue price / Re-offer price 99.462%
Yield to Maturity 1.057%
Coupon 1000%
SEO Euronext Paris

BNP Paribas, HSBC, Mediobanca and Société Générale acted as active bookkeepers for the bond issue as well as CIC, Crédit Agricole CIB, Goldman Sachs Bank Europe and Natixis who acted as passive bookkeepers.

Warning
This press release does not constitute an offer, an invitation to apply, or an offer or an invitation to purchase or subscribe for securities in the United States or in any other jurisdiction which may be subject to restrictions. These securities may not be offered or 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 not a prospectus within the meaning of Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”). A prospectus will be drawn up and made available to the public, in accordance with the Prospectus Regulations, for the purposes of admission of the bonds to trading on the regulated market of Euronext 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 qualified investors within the meaning of article 2 (e) of the Prospectus Regulation and in accordance with article L.411-2 of the Monetary and Financial Code, and outside of France. As of the date of this press release, no prospectus relating to the placement of the bonds has been approved by a competent authority of a Member State of the European Economic Area.
Wendel will not take any action within the framework of this placement with a view to making an offer to the public (other than to qualified investors) in France or abroad.
In the United Kingdom, this press release may be addressed to qualified investors as defined in AArticle 2 (e) of the Prospectus Regulation as it is part of UK domestic law under the European Union Act 2018 (withdrawal) only in cases where section 21 (1) of the Financial Services and Markets Act 2000 does not apply.
Distribution of this press release in any country where such dissemination could constitute a violation of applicable law is prohibited.

Agenda

06/29/2021

annual general meeting

07/29/2021

H1 2021 results / Publication of the NAV as of June 30, 2021 and of the condensed half-year consolidated financial statements (before marketing)

28.10.2021

Q3 2021 trading update / Presentation of the NAV as of September 30, 2021 (market launch)

12.02.2021

Investor Day 2021 / Meeting in the morning

About Wendel

Wendel is one of the leading listed investment companies in Europe. The Group invests in Europe, North America and Africa in companies that are leaders in their field, such as Bureau Veritas, Cromology, Stahl, IHS, Constantia Flexibles and Crisis Prevention Institute. Wendel plays an active role as controlling shareholder or leader of these companies. We implement long-term development strategies, which consist in stimulating the growth and margins of companies in order to strengthen their leading positions in the market.

Wendel is listed on the Eurolist by Euronext Paris.

Standard & Poor’s ratings: Long term: BBB, stable outlook – Short term: A-2 since January 25, 2019

Moody’s ratings: Long term: Baa2, outlook stable – Short term: P-2 since September 5, 2018

Wendel is the founding patron of the Center Pompidou-Metz. In recognition of his long-standing patronage of the arts, Wendel received the “Grand Mécène de la Culture” distinction in 2012.

For more information: wendelgroup.com

Follow us on twitter @WendelGroup

  • 2021_05_26_Wendel_Successful issue


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