Solvay places bonds for an aggregate nominal amount of €600 million and announces its intention to redeem the outstanding US$800 million notes due 2020 issued by Solvay Finance (America), LLC
Brussels, August 30, 2019, 18:00 --- Solvay announces today that Solvay SA placed senior fixed rate bonds for an aggregate nominal amount of €600 million paying a coupon of 0.5% and having its maturity date in September 2029. The notes are expected to be listed and admitted to trading on the regulated market of the Luxembourg Stock Exchange with ISIN BE6315847804.
Meanwhile, Solvay Finance (America), LLC announces its intention to redeem its outstanding US$800 million 3.400% notes due 2020 (CUSIP No. US8344PAA7 (Regulation S Notes) and 834423AA3 (Rule 144A Notes) / ISIN USU8344PAA76 (Regulation S Notes) and US834423AA33 (Rule 144A Notes)) on 30 September 2019.
These transactions will together contribute to an extension of the average maturity of our debt and to reduce our funding costs, benefiting from constructive market conditions. As such, they bear testimony to our continued focus on ensuring a prudent and cost effective capital structure as an integral part of our value creation strategy.
Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end-markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources, and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 24,500 employees in 61 countries.
Net sales were €10.3 billion in 2018, with 90% from activities where Solvay ranks among the world’s top 3 leaders, resulting in an EBITDA margin of 22%. Solvay stock (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR), and in the United States its shares (SOLVY) are traded through a level-1 ADR program.
Figures take into account the planned divestment of Polyamides
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This press release does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States or any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the Securities Act of 1933, as amended, and may not be offered, exercised or sold in the United States or to U.S. persons absent registration or an applicable exemption from registration requirements. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.
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The information contained herein shall not constitute or form part of an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Solvay has not authorised any offer to the public of securities in any Member State of the European Economic Area (“EEA”).
The securities referred to herein are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the EEA. For these purposes, the expression “retail investor” means a person who is one (or both) of: (a) a retail client, as defined in point (11) of Article 4(1) of the Market and Financial Instruments Directive 2014/65/EU, as amended (“MiFID II”) or (b) a customer, within the meaning of the Directive (EU) 2016/97 (as amended) where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II.
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The securities referred to herein may be held only by, and transferred only to, eligible investors referred to in Article 4 of the Belgian Royal Decree of 26 May 1994, holding their securities in an exempt securities account that has been opened with a financial institution that is a direct or indirect participant in the Securities Settlement System operated by the National Bank of Belgium. The securities are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any consumer (consumenten / consommateurs) within the meaning of the Belgian Code of Economic Law (Wetboek van economisch recht / Code de droit économique).