SARENS BESTUUR NV ANNOUNCES RESULTS OF THE CONDITIONAL CASH TENDER OFFER ON ITS EUR 40,000,000 SUBORDINATED BONDS DUE DECEMBER 2016
On 22 September 2016, Sarens Bestuur (the “Offeror”) announced its intention to the holders of its EUR 40,000,000 subordinated bonds due December 2016 (the “Bonds”) to tender any and all of their Bonds for purchase for cash (such invitation, the “Offer”). The Offer is conditional on the satisfaction of the successful completion of an offering by Sarens Finance Company NV of new euro-denominated fixed-rate notes (the “New Notes”) in an aggregate principal amount of at least €50,000,000 (the “New Financing Condition”).
The Offer was made on the terms and subject to the conditions set out in the Tender Offer Memorandum dated 22 September 2016 (the “Tender Offer Memorandum”). Capitalised terms used in this announcement but not defined herein have the meanings given to them in the Tender Offer Memorandum.
The Expiration Deadline for the Offer was 5.00 p.m. (CET) on Thursday, 29 September 2016.New Financing Condition
The Offeror hereby announces that the New Financing Condition is expected to be satisfied on settlement of the New Notes (the “New Issue Settlement Date”).
Upon the successful completion of the issue of the New Notes on the New Issue Settlement Date, which is expected to take place on 7 October 2016, the Offeror will announce that the New Financing Condition has been fulfilled.Settlement
Subject to the satisfaction of the New Financing Condition, payment of the Purchase Price will take place on the Tender Offer Settlement Date, expected to be 7 October 2016. After the Tender Offer Settlement Date, it is expected that an aggregate principal amount of
€24,000,000 of the Bonds will remain outstanding.
The Offeror has retained Bank Degroof Petercam NV and ING Bank N.V., London Branch to act as Dealer Managers and Lucid Issuer Services Limited to act as Tender Agent.
For further questions and information in connection with the Offer, please contact:
Bank Degroof Petercam NV
Rue de l'Industrie 44 1040 Brussels
Telephone: +32 2 287 98 69 Attention: Bond Sales Desk
ING Bank N.V.
8-10 Moorgate London EC2R 6DA United Kingdom
Telephone: +44 207 767 5107 Attention: Global Debt Syndicate
For further questions and information in connection with the settlement of the Offer, please contact:
Lucid Issuer Services Limited
Tankerton Works 12 Argyle Walk London WC1H 8HA United Kingdom
Telephone: +44 20 7704 0880
Fax: +44 20 3004 1590
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