The Bel Group issues a new funding for 150 million dollars under the USPP format under French Law
26 Juin 2020 - 6:30PM
The Bel Group issues a new funding for 150 million dollars under
the USPP format under French Law
The Bel Group announces it successfully put in
place its first USPP private bond issue under French law of $150
million due November 2035 (15 years) with institutional investors.
Crédit Agricole CIB (Lead Placement Agent), Société General and
Rabobank acted as joint-placement agents on the transaction
The investment shows a 3% coupon. The funding
date is scheduled for November 30, 2020.
The objective of this transaction is to optimize
the Group's financial structure:
- Diversification of funding sources, initiated in 2012 with the
issuance of a first private bond issue in Euro PP format of 160
million euros at 6 years and 7 years, completed in 2013 by a
Schuldschein in euro and dollar, in 2017 by an inaugural public
bond of 500 million euros at 7 years and in 2019 by a private
placement in Euro PP format of 125 million euros at 8 and 10 years
incorporating environmental and social criteria;
- Extending the average maturity of the debt;
- Strengthening its dollar debt as a result of the increase in
its operations in the United States; and
- Profit from particularly attractive financial conditions.
CMS Francis Lefebvre Avocats and Willkie Farr
& Gallagher LLP, advisors.
This announcement shall not constitute an offer
to sell or a solicitation of an offer to buy the notes or any other
securities, and shall not constitute an offer, solicitation or sale
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful.
The notes have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “Securities Act”) and may not
be offered, sold, tendered, bought or delivered within the United
States or to or for the account or benefit of “U.S. persons” (as
defined in the Securities Act) absent registration or an applicable
exemption from registration requirements. No public offering
of the notes will be made in the United States. There is no
assurance that the offering will be completed or, if completed, as
to the terms on which it is completed.
This announcement may include projections and
other “forward looking” statements within the meaning of applicable
securities laws. Any such projections or statements reflect
the current views of the company about further events and financial
performance. No assurances can be given that such events or
performance will occur as projected and actual results may differ
materially from these projections.This press release may contain
forward-looking statements. Such trend and/or target information
should in no way be regarded as earnings forecast data or
performance indicators of any kind. This information is by nature
subject to risks and uncertainties that may be beyond the Company's
control. A detailed description of these risks and uncertainties is
provided in the Company's Universal Registration Document,
available at the www.groupe-bel.com) à website as of April 3, 2020.
More comprehensive information about the Bel Group can be found in
the "Regulatory Information" section of the www.groupe-bel.com
website.
About Bel
The Bel Group is a world leader in branded
cheese and a major player in the healthy snack market. Its
portfolio of differentiated and internationally recognized brands
include such products as The Laughing Cow®, Kiri®, Mini Babybel®,
Leerdammer®, Boursin®, Pom’Potes®, and GoGo squeeZ®, as well as
some 20 local brands. Together, these brands helped the Group
generate sales of €3.4 billion in 2019.
Some 12,400 employees in some 30 subsidiaries
around the world contribute to the deployment of the Group's
mission to champion healthier and responsible food all. Bel
products are prepared at 32 production sites and distributed in
nearly 120 countries.
www.groupe-bel.com
------------ Public relations
Bel Group – Agence BCW Alice Dalla Costa / Cécile Pochard
alice.dalla-costa@bcw-global.com / cecile.pochard@bcw-global.com
+33 (0)1 56 03 12 26 / +33 (0)1 56 03 12 95
- Press Release_USPP Funding_Bel_EN