NV Vandemoortele offers subscription to subordinated bonds through private placement.

Vandemoortele announces the offering of subordinated bonds with a seven-year duration, and for a maximum amount of € 75,000,000 by way of a private placement. Each bond has a denomination of € 100,000. The Bonds will be issued on 7 November 2016 and mature on 7 November 2023.

The bonds were offered to investors on Oct 28th 2016 and due to its success, the subscription was closed early at 12:00 CET.

The bonds were offered with a coupon rate of 3.5% and an issue price at 100.5% which means a net return for the private investor of 2.476%.

Vandemoortele will use the proceeds of the bond issuance , together with cash flows and existing financing sources partly for early repayment of the amount outstanding under its senior revolving facility and to finance its business development as well as its general corporate purposes, including future acquisitions.

The bonds will further optimize the balance between existing bank financing and financing through the debt capital markets of Vandemoortele and will also extend the maturity of its funding.

Vandemoortele is pleased with the strong interest of investors and wants to thank them for their trust. KBC, Belfius and BNP Paribas Fortis acted as Joint 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