WENDEL: Successful issue of €300 million 10-year bond issue bearing interest at 1.000%

Successful issue of €300 million 10-year bond issue bearing interest at 1.000%

Wendel has successfully placed a €300 million bond issue maturing in June 2031 and bearing interest at 1.000%.

The issue was very well received by investors and was around 3 times oversubscribed. Bonds were primarily placed with French (46%), German and Austrian (37%) as well as British (10%) investors.

Proceeds of this issue will be used for general corporate purposes including towards the early repayment in whole of the bond maturing in April 2023 pursuant to their make-whole redemption provisions. The redemption is subject to the successful completion of the 2031 bond issue.

These two transactions will enable Wendel to extend its debt maturities to 5.6 years while maintaining its gross nominal debt to €1,600 million.

Features of the bond issue:

Total amount of the issue	€300 million
Maturity	June 01, 2031
Issue price / Reoffer price	99.462%
Yield to maturity	1.057%
Coupon	1.000%
Listing	Euronext Paris

BNP Paribas, HSBC, Mediobanca and Societe Generale served as active bookrunners for the Bond Issue as well as CIC, Crédit Agricole CIB, Goldman Sachs Bank Europe and Natixis who served as passive bookrunners.

Disclaimer
This press release does not constitute an offer, or an invitation to apply for, or an offer or invitation to purchase or subscribe for any securities either 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 prepared and made available to the public, in compliance with the Prospectus Regulation, for the purpose of admitting 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 to qualified investors as defined in Article 2(e) of the Prospectus Regulation and in accordance with Article L.411-2 of the Monetary and Financial Code, and outside France. As of the date of this press release, no prospectus related to the placement of the bonds has been approved by a competent authority of any European Economic Area Member State.
Wendel will undertake no action as part 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 sent to qualified investors as defined in Article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 only under circumstances wherein section 21(1) of the Financial Services and Markets Act 2000 does not apply.
The dissemination of this press release in any country where such dissemination could constitute a violation of applicable legislation is prohibited.

Agenda

06.29.2021

Annual General Meeting

07.29.2021

H1 2021 results / Publication of NAV as of June 30, 2021, and condensed Half-Year consolidated financial statements (pre-market release)

10.28.2021

Q3 2021 Trading update / Presentation of NAV as of September 30, 2021 (pre-market release)

12.02.2021

2021 Investor Day / Meeting to take place in the morning

About Wendel

Wendel is one of Europe's leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau Veritas, Cromology, Stahl, IHS, Constantia Flexibles and Crisis Prevention Institute. Wendel plays an active role as a controlling or lead shareholder in these companies. We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.

Wendel is listed on 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, stable outlook – Short-term: P-2 since September 5, 2018

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” in 2012.

For more information: wendelgroup.com

Follow us on Twitter @WendelGroup

 

Attachment

• 2021_05_26_Wendel_Successful issue