SOURCE: Wereldhave NV

October 13, 2010 03:04 ET

Wereldhave Launches Convertible Bonds

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

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.

To view the full press release click on the link below

http://www.wereldhave.com/

Contact Information

  • For further information, please contact:
    Wereldhave N.V.
    Charles F. Bloema
    Tel. + 31 70 346 93 25