Immobel hereby announces that on 5 October 2018 it will launch an issue of 5-year and 7-year bonds (respectively the “5-year tranche” and the “7-year tranche”) for an aggregate minimum amount of 75,000,000 EUR and an aggregate maximum amount of 100,000,000 EUR. These bonds will be issued in the form of a public offering in Belgium open to retail investors, and to a certain extent, qualified investors. The bonds will be listed on Euronext.
Immobel herewith confirms its financial strategy of diversification of its funding sources (i.e. by addressing the retail-market) and its commitment to pursue the development of its real estate portfolio in Europe.
IMPORTANT NOTICE
These bonds constitute debt instruments. Investment in bonds involves risk. By subscribing for the bonds, investors lend money to Immobel, which undertakes to pay interest annually and to reimburse the principal on the maturity date. In the event of default on the part of Immobel or its becoming insolvent, investors may not recover the sums that they are entitled to and risk losing all or part of their investment. The bonds are intended for investors capable of assessing the interest rate in the light of their knowledge and financial experience. Each decision to invest in these bonds must be based solely on the information contained in the Prospectus. Investors must read the Prospectus in full (and in particular the "Risk factors" section of the Prospectus on pages 40 to 54) before investing in the bonds. Each potential investor must carefully assess whether it is appropriate for them to invest in the bonds in the light of their knowledge and financial experience, and should if necessary obtain professional advice.
The issue price is set at 101.875 % of the nominal value of the bonds, with gross coupons of 3 % in respect of the 5-year tranche and 3.5 % in respect of the 7-year tranche, both payable on 17 October each year. The gross actuarial yields on the basis of the issue prices will amount to 2.595 % in respect of the 5-year tranche and 3.197 % in respect of the 7-year tranche, while the net actuarial yields (namely the gross yield less deduction of the withholding tax of 30%) will amount to 1.706 % in respect of the 5-year tranche and 2.159 % in respect of the 7-year tranche.
The net proceeds of the issue of the bonds are expected to amount to 99,850,000 EUR after deduction of the costs and expenses (in case the aggregate nominal amount for which bonds are issued is 100,000,000 EUR) or 74,850,000 EUR after deduction of the costs and expenses (in case the aggregate nominal amount for which bonds are issued is 75,000,000 EUR.
The bonds will be governed by Belgian law and will be redeemable at the redemption price of 100% of their nominal value on the date on which they reach maturity, namely 17 October 2023 in respect of the 5-year tranche and 17 October 2025 in respect of the 7-year tranche.
The nominal value of each bond is 1,000 EUR and the minimum subscription amount is also 1,000 EUR.
The subscription period will run from 5 October 2018 (9:00 a.m. CET) to 12 October 2018 (5:30 p.m. CET) subject to the possibility of early closure (see pages 128-129 of the "Subscription and Sale" part of the Prospectus), as from 5 October 2018 at 5:30 p.m. CET. The payment date for the bonds is set at 17 October 2018. Retail investors are encouraged to subscribe to bonds on the first business day of the subscription period before 5.30 p.m. (CET).
BELFIUS and ING are acting in the capacity of “Joint Lead Managers”. The first one is mandated as agent in the context of the issue and placement of the bonds.
To subscribe for the bonds or to obtain any information, investors may contact BELFIUS (Tel. +32 (0)2 222 12 01 or +32 (0)2 222 12 02 or web link www.belfius.be/Immobel2018) and ING (Tel. +32 (0)2 464 60 04 or web link https://www.ing.be/en/retail/investing/investments/bonds).
The Prospectus may be consulted on the websites of the Belgian Financial Services and Markets Authority (https://www.fsma.be/fr/prospectus-ems), of the Issuer (https://www.immobelgroup.com/en/pages/42-bond-issues) and of BELFIUS (www.belfius.be/Immobel2018) and ING (https://www.ing.be/en/retail/ investing/investments/bonds).
A paper copy of the Prospectus is also available free of charge at the Issuer's head office, located at Rue de la Régence, 1000 Brussels, Belgium.
COMPLAINTS
If you have a complaint to make, you can send it to:
Belfius
Your local Belfius bank branch, your financial adviser or Belfius' Complaints Management Unit, whose address is Service Gestion des Plaintes, Place Charles Rogier 11, 1210 Brussels, or by email: [email protected].
If you are not satisfied with the reply, you can contact Belfius Banque N.V. - S.A., Negotiation claims (RT 15/14), Place Charles Rogier 11, 1210 Brussels, or by email: [email protected].
ING
ING – Complaint Management – Cours Saint Michel, 60 – 1040 Brussels, or by e-mail at [email protected].
If you do not immediately obtain a solution after having contacted the aforesaid parties, you can send your complaint to the Financial Disputes Ombudsman (L’Ombudsman en conflits financiers), at North Gate II, Boulevard du Roi Albert II, 8, 1000 Brussels (www.ombudsfin.be).
Financial Calendar
- Year results 2018: March 2019
- General Assembly 2019: 23 May 2019
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