Arseus signs a mandate letter with four banks for a € 300 million five year revolving credit facility
Waregem (Belgium) / Rotterdam (the Netherlands)[1], 12 June 2012 – Arseus NV announces today the issue of a public offering in Belgium and Luxembourg of 5-year non-subordinated bonds with a maturity date in 2017 for a minimum amount of € 100 million and a maximum amount of € 225 million. The bonds offer a fixed annual gross interest rate of 4.75%. The gross actuarial return on the issue price is 4.325%. The issue price is 101.875%
The bonds will have a nominal value of € 1,000. The subscription period runs from 09:00 hours CET on 15 June until 25 June, inclusive, subject to earlier closure. The date of issue is 2 July 2012. An application has been filed for admission to listing on the regulated market of NYSE Euronext Brussels of the bonds. The bonds are redeemable at 100% of the nominal value on 2 July 2017.
In addition, in connection with the refinancing of its existing credit facility, Arseus NV signed a mandate letter on 11 June 2012 with KBC Bank, ING Belgium, BNP Paribas Fortis and Commerzbank setting out agreements on the main terms and conditions for a new credit facility. The new credit facility will have a term of 5 years and provide for a € 300 million revolving credit facility, divided into two equal tranches of € 150 million. The main agreement in the new credit facility is a net debt to recurrent EBITDA ratio of no more than 3.25. As described in the prospectus of 12 June 2012, the proceeds from the bond issue will be used by Arseus for early repayment of the first tranche of € 150 million.
Both operations will result in a full refinancing of Arseus NV, while also realising the intended diversification of sources of financing.
KBC Bank is acting as global coordinator for this bond issue. KBC Bank, ING Belgium and BNP Paribas Fortis are acting as joint lead managers and joint book runners, with Belfius Bank acting as co-lead manager.
Further information on this public offering can be found in the prospectus issued by Arseus on 12 June 2012, as approved by the FSMA (Financial Services and Markets Authority). Prospective investors are advised to read the prospectus carefully, and to take note in particular of the risk factors described in the prospectus. As of 13 June 2012, the prospectus is available from KBC Bank (www.kbc.be), ING Belgium (www.ing.be), BNP Paribas Fortis (www.bnpparibasfortis.be) and Belfius Bank (www.belfius.be), as well as on the Arseus website: www.arseus.com.
In the event of any discrepancy between the English translation and the original Dutch version of this press release, the latter shall prevail.
[1] This press release was sent out by Arseus NV and Arseus BV.
For more information:
Constantijn van Rietschoten
Director of Corporate Communications
+31 88 33 11 222 (office)
+31 6 536 91 585 (mobile)
constantijn.van.rietschoten@arseus.com
Arseus profile
Arseus is a multinational group of companies that supplies products, services and concepts to professionals and institutions in the healthcare sector in Europe, the US, Brazil and Argentina. Arseus is subdivided into four divisions and operates in the markets for pharmaceutical compounding for pharmacies, dental products, medical and surgical products, and medical ICT-solutions. The Belgian company Arseus NV is located in Waregem, and is listed on NYSE Euronext Brussels and NYSE Euronext Amsterdam. The operational activities of the Arseus group are driven by the Dutch company Arseus BV. The head office of Arseus BV is located in Rotterdam.
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