Touax announces the success of a bond issue

La Defense Cedex, FRANCE

Press Release                                                                                                                                      Paris, 31st July 2018 18:00


Touax announces the success of a bond issue

16.6 million euros due 2023

Not for distribution in the US, Canada or Japan, or in any other jurisdiction where distribution of this announcement would be unlawful

On 31 July 2018, Touax SCA completed a senior unsecured bond issue on Euro PP format with a par value of 16.6 million euros and a maturity date of 31 July 2023 (the "Bonds").

The Bonds bear interest at a nominal annual rate of 5.75%, payable annually in arrears.

The issue of the Bonds is intended to extend the average maturity of the Group's debt. The net proceeds of the issue will thus be partly used to refinance the bonds maturing on October 2, 2018, bearing an interest rate of 6.25%; the balance being allocated to the general needs of the Group.

This transaction reflects the Group's desire to achieve both asset financing (for example, on May 31, 2018, € 110m in asset financing - see press release of June 4, 2018) and financing at the level of the Touax SCA holding company with a view to diversification and optimization.

This issue of bonds reduces the average cost of the Group's corporate debt and thus demonstrates the improvement in the quality of the Group's credit following the disposal at the end of 2017 of European and US modular construction activities.

The Bonds have been admitted to trading on the Euronext Access® market.

Octo Finances, Lead Partner of this bond issue was advised by CMS Francis Lefebvre Avocats, De Pardieu Brocas Maffei advised TOUAX SCA.

"We are very satisfied with this transaction, which marks investors' confidence in the Group's strategic refocusing on the rental of freight wagons, river barges and containers. The sale of the European and US modular buildings business in December 2017 helped improve the quality of the Group's credit with a strengthened financial structure." Raphaël and Fabrice Walewski, Group Managing Partners.

2018 half-yearly results will be published on September 13, 2018 with a commentary on the activities.

TOUAX Group leases out tangible assets (shipping-containers, freight railcars and river barges) on a daily basis throughout the world, for its own account and on behalf of third party investors. With €1.2 billion under management, TOUAX is one of the European leaders in the operational leasing of this type of equipment.

TOUAX is listed in Paris on EURONEXT - Euronext Paris Compartment C (Code ISIN FR0000033003) and on the CAC® Small and CAC® Mid & Small indexes and in EnterNext PEA-PME 150.

For more information:


TOUAX                                                                                                                                      ACTIFIN
Fabrice & Raphaël WALEWSKI                                                                                            Ghislaine GASPARETTO
Managing Partners                                                                                                                                                                                                                                                                                                                                       Tel: +33 (0)1 56 88 11 11
Tel: +33 (0)1 46 96 18 00                                                                                                                     


Touax announces the success of a bond issue