Wereldhave announces the pricing of its convertible bonds
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. PRICES EURO 230 MILLION OF 5-YEAR SENIOR UNSECURED
CONVERTIBLE BONDS
Wereldhave N.V. ("Wereldhave") announces that the offering (the"Offering") of senior unsecured convertible bonds due 2015 (the"Bonds") was successfully priced today.
The maturity of the Bonds is 5 years. The Bonds will be issued at 100
per cent. of their principal amount and will have a coupon of 2.875 per
cent. per annum payable semi-annually in arrear. The conversion price
is EUR 81.10, a premium of approximately 12.5 per cent. above the
volume-weighted average price of the ordinary shares of Wereldhave (the"Shares") on Euronext Amsterdam during the course of today up to the
time of pricing.
Barclays Capital has also exercised the EUR 30 million increase option
granted to it by Wereldhave. Consequently the issue size has been
increased to EUR 230 million. The Shares to be issued upon conversion
of the Bonds will represent approximately 13% of Wereldhave's currently
issued share capital.
The net proceeds of the Offering will be used by Wereldhave for general
corporate purposes and refinancing of the EUR 200 million 2.5%
convertible bond due March 2011.
The Bonds will be offered to institutional investors only. Neither the
Bonds nor the Shares have been or will be registered under the U.S.
Securities Act 1933, as amended (the "Securities Act") and will be
offered and sold only outside the United States in compliance with
Regulation S under the Securities Act. Neither the Bonds nor the Shares
will be offered to investors in the United States, Australia, Canada,
Italy or Japan or any other jurisdiction in which offers or sales would
be prohibited by applicable law.
Payment for and delivery of the Bonds is expected to be on or about 18
November 2010. On or before such time an offering circular will be made
available by Wereldhave. Barclays Capital will act as settlement agent
in respect of the Offering.
Application will be made for the admission of the Bonds to the official
list of the Luxembourg Stock Exchange and application will be made for
the admission of the Bonds to trading on the Luxembourg Stock
Exchange's EuroMTF Market.
Barclays Capital is acting as Sole Bookrunner of the Offering.
In connection with the issue of the Bonds, Barclays Capital (the"Stabilising Manager") (or persons acting on behalf of the Stabilising
Manager) may over-allot Bonds or effect transactions with a view to
supporting the market price of the Bonds at a level higher than that
which might otherwise prevail. However, there is no assurance that the
Stabilising Manager (or persons acting on behalf of the Stabilising
Manager) will undertake stabilisation action. Any stabilisation action
may begin on or after the date on which adequate public disclosure of
the final terms of the offer of the Bonds is made and, if begun, may be
ended at any time, but it must end no later than 30 days after the
issue date of the Bonds.
About Wereldhave
Wereldhave is a leading independent property company with an
internationally diversified real estate portfolio in Europe and the
United States.
Wereldhave invests in office buildings, shopping centers, industrial
property and apartments in Belgium, Finland, France, the Netherlands,
Spain, the United Kingdom and the United States. Wereldhave has at its
disposal an integrated organisation for the development, investment and
management of its properties with local offices in each of these
countries. Wereldhave's headquarters are in The Hague, with regional
offices in the countries in which Wereldhave operates. Wereldhave's
shares are listed and admitted to trading on Euronext Amsterdam by NYSE
Euronext.
The Hague, 13 October 2010
Wereldhave N.V.
For further information, please contact:
Wereldhave N.V.
Charles F. Bloema
Tel. + 31 70 346 93 25
Disclaimer see text on website Wereldhave
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The company news service from the London Stock Exchange
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