Wolvertem | 30 September 2016
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE.
SARENS FINANCE COMPANY NV ANNOUNCES PRICING OF €125,000,000 OF ADDITIONAL 5.125% SENIOR NOTES DUE 2022
Sarens Bestuur NV ("Sarens") announced today that Sarens Finance Company NV, one of its wholly- owned subsidiaries, has priced a previously announced offering of €125,000,000 in aggregate principal amount of its 5.125% Senior Notes due 2022 (the "Notes") at a price of 98.5%.
The Notes will pay interest semi-annually on February 5 and August 5, beginning on February 5, 2017. This offering will represent an additional issuance of Notes to the series of 5.125% Senior Notes due 2022 issued February 5, 2015. Upon the closing of this offering, the aggregate principal amount of Notes outstanding will be €250,000,000.
Sarens intends to use the net proceeds of the offering (1) to refinance existing indebtedness, including the repayment of outstanding subordinated bonds of Sarens due December 2016 (the “2016 Notes”) through a cash tender offer initiated today or by repayment at maturity, as well as repayment of an existing revolving facility drawing and certain short-term borrowings (the “Facilities”), (2) for general corporate purposes and (3) to pay related prepayments, premiums, fees and expenses. The Notes offering is expected to close on October 7, 2016.
The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws and may not be offered or sold in the United States or for the account or benefit of any United States citizen or in any way distributed in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered only outside the United States in reliance on Regulation S under the Securities Act.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction where the offering would not be permitted. This press release contains information about a pending transaction and there can be no assurance that this transaction will be completed.
Forward-Looking Information is Subject to Risk and Uncertainty
This press release may include certain "forward-looking" statements. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believes," "expects," "may," "will," "would," "should," "seeks," "pro forma," "anticipates," "intends," "plans," "estimates," or the negative of any thereof or other variations thereof or comparable terminology, or by discussions of strategy or intentions. These statements are not guarantees of future actions or performance and involve risks, uncertainties and assumptions as to future events that may not prove to be accurate. Actual actions or results may differ materially from what is expressed or forecasted in these forward-looking statements as we may be unable to complete the offering, the repurchase, redemption or retirement of the 2016 Notes or the Facilities. As a result, these statements speak only as of the date they were made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise. Many important factors could cause our results to differ materially from those expressed in these forward-looking statements. These factors include, but are not limited to, general market conditions, national or global events affecting the capital markets, unforeseen developments in our business or industry or changes in law or regulations governing our ability to complete the offering, the repurchase, redemption or retirement of the 2016 Notes or the Facilities.
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