22 May 15 / Dirk Durez

NV Vandemoortele closes early its successful Public Bond Issuance after one day.

Vandemoortele NV announced on May 20 2015 the public issuance in Belgium of bonds with a seven-year duration and for a minimum amount of € 75,000,000 and a maximum amount of € 100,000,000. Since the maximum amount of € 100,000,000 was reached on May 22 2015, the subscription period has, in consultation with the Joint Lead Managers, been closed early on 22 May 2015 at 17:30 CET.

The Joint Lead Managers and the Co-Lead Managers received subscriptions for a higher amount than the maximum foreseen issue amount of € 100,000,000. Due to the oversubscription, the subscriptions of private investors will be reduced proportionally. The private investors will receive more information on this, through their financial intermediary.

The bond is issued with a coupon rate of 3.06%, which means a net return of 2,005% for the private investor.

The net revenue from this issuance will primarily be used for the early repayment of the amount outstanding under the NV Vandemoortele's Revolving Facility, which was used to finance the takeover of LAG and for general business purposes. At the date of the Prospectus the outstanding amount of the Revolving Facility is € 95,000,000.

The eventual remaining part of the net proceeds will be used for the financing of further business developments.

Vandemoortele is pleased with the strong interest of both the professional investors for their tranche of 10,000,000 €, and the private investors for their tranche of 90,000,000 €, and wants to thank them for their trust.

KBC and Belfius acted as Joint Lead Managers in this transaction, with BNP Paribas Fortis, ING, Rabobank and Bank Degroof as Co-Lead Managers. KBC also acted as Global Coordinator.

Press contact:

Dirk Durez
General Secretary
+ 32 9 242 45 11
dirk.durez@vandemoortele.com

About Vandemoortele

Vandemoortele is a leading European food group that manufactures and sells high quality food products. Vandemoortele focuses on two activities: Bakery Products and Margarines, Culinary Oils & Fats.

In 2017 Vandemoortele realised a turnover of around EUR 1.4 billion with 5,200 employees. The Group is present in 12 European countries with own sales organisations and/or production sites. Its headquarters are located in Ghent, Belgium.

News & Media Contact

Flore Couvreur
flore.couvreur@vandemoortele.com