Debt Instruments

On February 21, 2020 Sarens Finance Company NV, a direct subsidiary of Sarens Bestuur NV, successfully placed senior notes in an aggregate principal amount of €300m euros with a tenor of seven years.

The proceeds from the offering were used to refinance the group’s existing Senior Notes due 2022, to partially repay outstanding amounts under the group’s revolving credit facility, and to pay related fees and expenses. The notes have an annual coupon of 5,750 percent.

Over the years Sarens and as part of the deleveraging strategy, Sarens bought back part of its senior notes through cash generated by operations as well as with proceeds from new syndicated bank term loan finalized in 2025. At 4th of July 2025, the outstanding free float of senior notes totals €60m compared with €225m at end of 2023/2024, €292 at end 2022 and €300m during 2020 and 2021.

Terms and conditions

ISIN
BE6318634548

Issuer
Sarens Finance Company NV, a limited liability company incorporated under the laws of Belgium.

Parent Guarantor
Sarens Bestuur NV

Subsidiary Guarantor
Sarens NV, Sarens (UK) Ltd., Sarens Cranes Ltd., Sarens Nederland BV and Sarens BE NV and any future guarantors that are subsidiaries of the Company which provide the Subsidiary Guarantees.

Notes Offered
€300.0 million aggregate principal amount of 5.750% Senior Notes due 2027.

Issue Date
February 21, 2020

Maturity Date
February 21, 2027

Interest Rate
The Notes will bear interest at a rate of 5.750% per annum.

Rating
The new Senior Notes are rated BB- by Standard & Poor’s

Interest Payment Dates
Interest on the Notes will be payable semi-annually in arrears on February 21 and August 21 of each year

Denomination
Minimum denomination of €100,000 and integral multiples of €1,000 in excess thereof.

Governing law for the Notes, Guarantees and Indenture
New York law

Governing law for the Subordination Agreement
English law

Joint Global Coordinators and Physical Bookrunners
BNP Paribas and ING

Joint Bookrunners
Commerzbank and KBC

Trustee and Security Agent
The Bank of New York Mellon, London Branch

Paying Agent
ING Belgium

Callable
Yes

Related Press Releases

 

2025

NOTICE OF REDEMPTION - SARENS FINANCE COMPANY NV

NOTICE OF REDEMPTION - SARENS FINANCE COMPANY NV

 

2023

Sarens Finance Company NV Announces the Results of its Offer to Purchase a Portion of its Outstanding €300,000,000 5.750% Senior Notes due 2027 (ISIN: BE6318634548 / Common Code: 211187425) (the "Notes") for Cash

Sarens Finance Company NV announces its Offer to Purchase a Portion of its Outstanding €300,000,000 5.750% Senior Notes Due 2027 (ISIN: BE6318634548 / Common Code: 211187425) (the "Notes") for Cash

Sarens Finance Company NV Announces the Results of its Offer to Purchase a Portion of its Outstanding €300,000,000 5.750% Senior Notes due 2027 (ISIN: BE6318634548 / Common Code: 211187425) (the "Notes") for Cash

Sarens Finance Company NV announces its Offer to Purchase a Portion of its Outstanding €300,000,000 5.750% Senior Notes Due 2027 (ISIN: BE6318634548 / Common Code: 211187425) (the "Notes") for Cash

 

2020

Sarens announces successful completion of €300 million Senior Notes offering

Sarens announces launch of a new senior notes offering and a proposed redemption of existing senior notes