Vilmorin & Cie has just successfully completed the cash tender offer launched on July 6, 2020 to repurchase its bond issue of a total nominal amount of 450 million euros, maturing in May 2021 (ISIN FR0011921881).
The maximum amount of the tender offer announced to bondholders was 103.8 million euros. Settlement and delivery took place on July 15, 2020.
The nominal amount outstanding prior to the repurchase was 450 million euros and therefore stood at 346.2 million euros after the settlement date.
This operation has enabled Vilmorin & Cie to anticipate its financial maturities. Vilmorin & Cie is thus pursuing its strategy of optimizing its financial capacities, after significantly strengthening its financial resources during the course of 2019, on the one hand with a private "Schuldschein" placement (private placement under German law), for a total of 250 million euros, and the renewal of its syndicated bank loan for 300 million euros, along with the signing of a long-term funding agreement worth 170 million euros with the European Investment Bank, completed during the current fiscal year.
Vilmorin & Cie has been accompanied for this transaction by CACIB and Natixis as dealer managers and advised by Degroof Petercam Investment Banking.
COMING DISCLOSURES AND EVENTS
Monday August 3, 2020(1): Disclosure of sales for fiscal year 2019-2020
Wednesday October 14, 2020(1): Disclosure of results for fiscal year 2019-2020
Monday November 2, 2020(1): Disclosure of sales at the end of the first quarter 2020-2021
Friday December 11, 2020: Annual General Meeting of Shareholders in Paris
Dates provided as an indication only, and liable to be changed
(1) Disclosure after trading on the Paris stock market.
FOR ANY FURTHER INFORMATION
Chief Financial Officer
Head of Financial Communication and Investor Relations
Tel: + 33 (0)4 73 63 44 85
Vilmorin & Cie, the 4th largest seed company in the world, develops vegetable and field seeds with high added value, contributing to meeting global food requirements.
Accompanied by its reference shareholder Limagrain, both an agricultural cooperative owned by French farmers and an international seed group, Vilmorin & Cie’s strategy for growth relies on strong, sustained investments in research and international development to durably strengthen its market shares on promising world markets.
True to its vision of sustainable development, Vilmorin & Cie ensures its achievements fully respect its three founding values: progress, at the heart of its beliefs and its mission, perseverance, inherent to farming and the seeds business, and cooperation, in the fields of science, industry and commerce.