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Wendel extends its bond debt maturities

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PRESS RELEASE - 05/26/2021

Wendel extends its bond debt maturities

  • Launch of a €300 million 10-year bond issue

  • Subsequent redemption of the bond maturing in April 2023 with outstanding principal of €300 million

Wendel is launching today a €300 million issue of 10-year bonds (the "Bond Issue").

Subject to the successful completion of the Bond Issue, Wendel will fully exercise the make-whole redemption provision, at a price determined in accordance with the terms and conditions of the bonds, on the bond bearing interest at 1.000% and maturing in April 2023, with outstanding principal amount: €300 million (ISIN FR0013213709).

The 2023 bond is traded, and the new 2031 bond will be traded, on the regulated market of Euronext Paris.

These two transactions will enable Wendel to extend its debt maturity profile. Results of the placement of the Bond Issue will be announced by the end of the day.

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

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