SOURCE: BONDUELLE

Bonduelle

September 06, 2012 13:13 ET

The Bonduelle Group Announces an Inaugural Bond Issue on the European Private Placement Market

VILLENEUVE-D'ASCQ, FRANCE--(Marketwire - Sep 6, 2012) -  The Bonduelle Group has just received the following visa number 12-430 from the Financial Markets Authority, the AMF, to issue bonds on the NYSE Euronext Paris in the form of a private placement as of 10th of September 2012.

The issue, initially amounting to 100 million euros was increased to 145 million euros, following an European investors' appetite - insurers and mutual insurers. The issue offers a 6.5 year maturity (March 2019) and a 3.83% coupon bond.

This operation follows the signing, announced on the 3rd of July 2012, of a Revolving Credit Facility (RCF) amounting to 300 million euros, with a pool of 7 international banks. The strategy allows on the one hand to back the Bonduelle Group's 3 acquisitions announced 1st half of 2012 (Globus in Russia, Kelet-Food in Hungary and Allens in the United States) to long term resources and on the other hand to anticipate the bonds part of the OBSAAR* 2007 and 2009 repayments.

The Group increases the disintermediation of its debt (61 % post issuance), Bonduelle being among the first French companies having issued bonds in 2000 on the American private placements market (the USPP), and extents its debt maturity (5.6 years post issuance pro forma) under extremely interesting conditions.

This financial operation undertaken by the Bonduelle Group is the first private placement issued in bonds on the European Market by a medium size French non rated company. It paves the way to European Private Placements (Euro Private Placement), a new investment instrument offering an alternative to traditional financial banking for medium size companies with no rating and having limited access to the traditional public bond market.

The arranger behind this transaction is the Crédit Agricole CIB, on behalf of Crédit Agricole Nord de France. Bonduelle was advised by Willkie Farr & Gallagher, and Crédit Agricole CIB by the CMS Bureau Francis Lefebvre, both based in Paris.

The prospectus that received the AMF visa for the quote on the NYSE Euronext Paris is available on the Group's website: www.bonduelle.com and the AMF's one: www.amf-france.org.

*(OBSAAR = bond with warrants and/or redeemable share purchase warrants)

CP_EuroPP_UK.pdf: http://hugin.info/143377/R/1639349/527565.pdf

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