Solvay announces exercise of issuer call option on the €300 million Perp-NC5.25 hybrid bonds issued by Solvay SA
2023年10月20日 - 3:09PM
Solvay announces exercise of issuer call option on the €300 million
Perp-NC5.25 hybrid bonds issued by Solvay SA
Solvay announces exercise of issuer call option on the €300
million Perp-NC5.25 hybrid bonds issued by Solvay SA
Brussels, October 20, 2023, 8.00am CEST
- Solvay SA (“Solvay” or the “Company”) announced today that
it will redeem its €300 million Undated Deeply Subordinated Fixed
to Reset Rate Perp-NC5.25 Bonds (ISIN: BE6309987400) on
December 4, 2023 as per its issuer general call option. This
perpetual deeply subordinated bond, bearing an annual interest rate
of 4.25%, is treated as equity under IFRS rules. The redemption
notice is available on the Luxembourg Stock Exchange
(https://www.luxse.com/security/BE6309987400/274063).
Today's announcement forms part of Solvay’s
liability management process in preparation of Solvay’s planned
separation into two independent, investment-grade rated listed
companies, Specialty Holdco Belgium (expected to be renamed
“Syensqo”) and EssentialCo (which will keep the Solvay name), that
is intended to take place by means of a partial demerger of Solvay
under Belgian law in December 2023.
Important legal information
The contemplated separation of Solvay is subject
to general market conditions and customary closing conditions,
including final approval by the Board of Directors of Solvay,
consent of certain financing providers and shareholder approval at
an extraordinary general meeting, and is expected to be completed
in December 2023. There can be no assurance, however, regarding the
ultimate timing of the separation or that the separation will
actually be completed. The Company will keep the market informed if
and when appropriate.
The distribution of this press release may be
restricted by law in certain jurisdictions and persons into whose
possession any document or other information referred to herein
comes, should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
- 20231020-Dec hybrid call-EN
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