Brussels, 15 July 2015 – EnterNext today welcomes the listing of a successful €250 million bond public offer on Euronext Brussels by Tessenderlo Chemie NV, the Belgium-based specialty company, focused on food, agriculture, water management and valorising bio-residuals.
Tessenderlo’s two series of retail bonds are maturing in 2022 and in 2025 respectively. After the second day of the subscription period, the bonds had already been entirely subscribed for the maximum combined amount of €250 million, of which €192 million for the 2022 Bonds and €58 million for the 2025 Bonds. The two series of bonds offer a gross coupon of 2.875% per year and 3.375% per year for the 2022 Bonds and 2025 bonds respectively.
Founded in 1892, Tessenderlo is an international specialty group, providing solutions for needs in agriculture, food, water management and efficient use and re-use of natural resources. Tessenderlo Chemie NV is listed on Euronext Brussels and is part of the EnterNext franchise, dedicated to the promotion of Mid & Small Caps. The company is included in the Next 150 and BEL Mid indices.
Stefaan Haspeslagh, Chairman of the Board of Directors and CFO of Tessenderlo Group, said: “It is a great pleasure to be here today. Our retail bond was a very successful one. The strong confidence that investors have shown in Tessenderlo Group by subscribing for the seven and ten year bonds, will allow us to optimize our financing strategy and to continue to invest in the future growth of our business. I would like to take the opportunity to thank all of our employees for their hard work and dedication, the investors for their confidence, as well as the banks (ING, BNP Paribas Fortis, KBC, Belfius, Bank Degroof) for their support during this transaction.”
“We are delighted with the success of Tessenderlo’s bond offering on Euronext Brussels”, commented Vincent Van Dessel, CEO of Euronext Brussels. “Bonds are an attractive and flexible source of additional funding, and we are convinced that such bonds help to channel domestic savings back into productive investment.”
Alain Baetens, Head of Listings of Euronext Brussels, added: “We congratulate the company’s management and advisors with the successful placement of one of the largest retail bonds in the last three years, and this in challenging market conditions. It proves the robustness of the markets and confidence in its ability to support ambitious growth companies to attract the right investors at attractive capital costs.”
To celebrate the new listing, Stefaan Haspeslagh, Chairman of the Board of Directors and CFO of Tessenderlo Group, rang the bell to open trading on Euronext.