Etex is satisfied with first bond issue - 06/09/2012

Press releaseToday, the Belgian building materials group Etex closed the subscription period of its bond early. Etex wanted to raise, through the bond, a maximum of 400 million euro. This amount has been exceeded on the first day, so Etex decided to early close the subscription period.

BNP Paribas Fortis, ING and KBC Bank received, since the start of the offering this morning, subscriptions exceeding 400 million euro. This is why Etex has decided, on the first day, to early terminate the subscription period.

“We are pleased with this bond issue”, says Fons Peeters, CEO of Etex. “That we were able to raise more than 400 million euro in one day testifies to the confidence investors have in Etex. Etex is a group with many assets and this has attracted many investors.”

The net proceeds of the bond will be used to repay a bridge loan contracted to finance the acquisition of Lafarge’s gypsum activities.

The bond has a term of 4 years and 6 months and a maturity date of 31 March 2017, providing an annual coupon of 5 %, and will be issued on 27 September 2012. This is based on an issue price of 101 %, with a gross yield of 4,755 % annually.

Further information regarding this public offering can be found in the prospectus, approved by the Financial Services and Markets Authority (FSMA), dated 3 September 2012. The prospectus is still available from the relevant financial institutions and on the group’s website.

About Etex

Etex is a Belgian industrial group that is specialised in manufacturing and marketing building materials. Its four core businesses are: cladding and building boards in fibre cement and plaster, roofing materials, passive fire protection and high performance insulation, and ceramic floor and wall tiles. In Belgium, apart from its headquarters, Etex has three productions sites and two R&D centres.
With over 18,000 employees operating on 121 production sites in 44 countries and with an annual turnover of more than 3 billion euro, Etex is an international player in sustainable building materials and solutions. 

More information

Regine Van Tomme Corporate Communications Director
Tel. + 32 2 778 12 11 or +32 2 778 12 84

Important information

Before making an investment decision and carrying out a transaction with respect to the Bonds, investors must ensure that they have a correct understanding of the transaction and that they can make an independent assessment of the appropriate character of the transaction in light of their objectives. Investors must ensure that they have sufficient information available with respect to the Issuer and the Bonds prior to making an investment in the Bonds. In their investment decision, the investors should take into consideration the information contained in the prospectus, including the risk factors as described on page 24 of the prospectus and not only this announcement. Investors cannot take into account the guarantee as a decisive element in their investment decision.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Bonds, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. This announcement is not for distribution, directly or indirectly in the United States of America, Canada, Japan or Switzerland, or any other jurisdiction where distribution would not be permitted by law. The Bonds are not offered in the United States of America. In the European Economic Area (except Belgium and Luxembourg) this announcement is only directed at qualified investors at qualified investors within the meaning of directive 2003/71/EC (as amended). No announcement or information with respect to the Bonds may be distributed to the public in other jurisdictions than Belgium and Luxembourg if the applicable legal requirements have not been complied with. The Issuer is not responsible for non-compliance of applicable legal requirements by other persons.