Successful Bond Issue by Groupe Fnac
Groupe Fnac announced today it has successfully completed its €650 million senior bond issue maturing 2023. The annual interest rate was set at 3.25%, below the initial price range.
This transaction, a first for the new Group following the acquisition of Darty, drew strong interest from more than 300 European investors and was heavily oversubscribed.
In April 2016, Fnac had set up a €750 million Bridge Loan for the Darty acquisition. The funds raised by this bond issue, as well as cash, will be earmarked to repay the Bridge Loan.
Early this week, the financial rating agencies issued their ratings for the new Group: BB from Standard & Poor's, and Ba2 from Moody's.
About Groupe Fnac - www.groupe-fnac.com: Groupe Fnac is a retailer of entertainment and leisure products and consumer electronics. A leader in France and a major player in the countries where it operates (Spain, Portugal, Brazil, Belgium, Switzerland, Morocco, Qatar, Ivory Coast), Groupe Fnac had a multi-format network of 205 stores (including 125 in France) at the end of June 2016, plus e-commerce sites, including Fnac.com, ranked France's third most visited e-commerce site (more than 10 million unique visitors/month). A benchmark omni-channel player, Groupe Fnac's consolidated revenues totaled €3.876 billion in 2015 and it had more than 14,100 employees.
Press contacts:
Laurent Glépin: +33 (0)1 55 21 54 13 - laurent.glepin@fnac.com
Contact for analysts and investors:
Nadine Coulm: +33 (0)1 55 21 18 63 - nadine.coulm@fnac.com
DISCLAIMER
There will be no public offering of the bonds. The bonds will be offered and sold only to qualified institutional investors in accordance with Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act") and to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act. No assurance can be given that the offering will be completed or, if completed, as to the terms on which it will be completed. This announcement is for informational purposes only and does not constitute or form a part of any offer or solicitation to purchase or subscribe to securities in the United States or in any jurisdiction in which, or to any person to whom, such offer or solicitation would be unlawful. The bonds have not been, and will not be, registered under the Securities Act. The bonds may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.
In the United Kingdom, this announcement is being distributed only to, and is directed at (a) persons who have professional experience in matters relating to investments who fall within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (b) high net worth entities, and other persons to whom it may otherwise be lawfully communicated, falling within Article 49(1) of the Order (all such persons together referred to as "relevant persons"). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available only to or will be engaged only with, relevant persons.
This announcement does not constitute and shall not, in any circumstances, constitute a public offering nor an invitation to the public in connection with any offer within the meaning of Directive 2010/73/EU of the Parliament and Council of November 4, 2003 as implemented by the Member States of the European Economic Area (the "Prospectus Directive"). The offer and sale of the bonds will be made pursuant to an exemption under the Prospectus Directive, as implemented in Member States of the European Economic Area, from the requirement to produce a prospectus for offers of services.
The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
