22 May 15

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 was founded in 1899 as a Belgian family business, and has continued to grow and develop ever since. Over the last two decades, we became a European food company with leading positions in two product categories: Bakery Products (BP) and Margarines, Culinary Oils & Fats (MCOF). We are known for supplying innovative and high-quality products.

In 2021 Vandemoortele realised a turnover of around EUR 1.3 billion with 4,800 (permanent and temporary) associates. The Vandemoortele Group headquarters are located in Ghent, Belgium. We have commercial offices in 12 European countries, as well as in the United States. We operate on more than 28 high-quality production sites all over Europe, in order to ensure proximity to all our key markets. We export from Europe to 95 countries worldwide.

News & Media Contact

Marc Croonen
marc.croonen@vandemoortele.com