SOURCE: Wereldhave NV

October 13, 2010 03:02 ET

Wereldhave launches convertible bonds

THE HAGUE, THE NETHERLANDS--(Marketwire - October 13, 2010) -




Wereldhave launches convertible bonds

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES, CANADA, AUSTRALIA, ITALY OR JAPAN OR IN ANY
OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW


WERELDHAVE N.V. LAUNCHES AN ISSUE OF EURO 200 MILLION OF 5-YEAR SENIOR
UNSECURED CONVERTIBLE BONDS

Wereldhave N.V. ("Wereldhave") announced today that it has launched an
offering (the "Offering") of EUR 200 million senior unsecured
convertible bonds due 2015 (the "Bonds"). Wereldhave has also granted
Barclays Capital an increase option of up to EUR 30 million,
exercisable at any time prior to the closing date of the Bonds. The
shares to be issued upon conversion of the Bonds (the "Shares") will
represent approximately 12% of Wereldhave's currently issued share
capital (prior to exercise of the increase option).

The maturity of the Bonds is 5 years. The Bonds will be issued at 100
per cent. of their principal amount and are expected to have a coupon
of between 2.625 per cent. and 3.125 per cent. per annum payable
semi-annually in arrear. The conversion price is expected to be set at
a premium of between 10 per cent and 15 per cent above the
volume-weighted average price of the Shares on Euronext Amsterdam
during the course of today up to the time of pricing. The final terms
of the Bonds are expected to be announced later today through a
separate press release.

The net proceeds of the Offering will be used by Wereldhave for general
corporate purposes and refinancing of the EUR 200 million 2.5%
convertible bond due March 2011.

The Bonds will be offered to institutional investors only. Neither the
Bonds nor the Shares have been or will be registered under the U.S.
Securities Act 1933, as amended (the "Securities Act") and will be
offered and sold only outside the United States in compliance with
Regulation S under the Securities Act. Neither the Bonds nor the Shares
will be offered to investors in the United States, Australia, Canada,
Italy or Japan or any other jurisdiction in which offers or sales would
be prohibited by applicable law.

Payment for and delivery of the Bonds is expected to be on or about 18
November 2010. On or before such time an offering circular will be made
available by Wereldhave. Barclays Capital will act as settlement agent
in respect of the Offering.

Application will be made for the admission of the Bonds to the official
list of the Luxembourg Stock Exchange and application will be made for
the admission of the Bonds to trading on the Luxembourg Stock
Exchange's EuroMTF Market.

Barclays Capital is acting as Sole Bookrunner of the Offering.

In connection with the issue of the Bonds, Barclays Capital
(the"Stabilising Manager") (or persons acting on behalf of the Stabilising
Manager) may over-allot Bonds or effect transactions with a view to
supporting the market price of the Bonds at a level higher than that
which might otherwise prevail. However, there is no assurance that the
Stabilising Manager (or persons acting on behalf of the Stabilising
Manager) will undertake stabilisation action. Any stabilisation action
may begin on or after the date on which adequate public disclosure of
the final terms of the offer of the Bonds is made and, if begun, may be
ended at any time, but it must end no later than 30 days after the
issue date of the Bonds.

About Wereldhave

Wereldhave is a leading independent property company with an
internationally diversified real estate portfolio in Europe and the
United States.

Wereldhave invests in office buildings, shopping centers, industrial
property and apartments in Belgium, Finland, France, the Netherlands,
Spain, the United Kingdom and the United States. Wereldhave has at its
disposal an integrated organisation for the development, investment and
management of its properties with local offices in each of these
countries. Wereldhave's headquarters are in The Hague, with regional
offices in the countries in which Wereldhave operates. Wereldhave's
shares are listed and admitted to trading on Euronext Amsterdam by NYSE
Euronext.

The Hague, 13 October 2010

Wereldhave N.V.

For further information, please contact:

Wereldhave N.V.

Charles F. Bloema

Tel. + 31 70 346 93 25


Disclaimer see text on website Wereldhave
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          The company news service from the London Stock Exchange

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