The bonds have been placed with qualified institutional investors and were nearly six times oversubscribed, allowing for an issuance amount of EUR 500 million. The pricing of the annual coupon was fixed at 5.125% with an issue price of 99.637%. The bonds are issued by Silfin with a guarantee by SCR-Sibelco.
This financing provides additional diversity to Sibelco’s funding portfolio. The proceeds of the bond issue will be used for the group’s general corporate purposes, including the financing of growth projects and of potential acquisitions, as well as the refinancing of existing indebtedness.
The bonds have been issued on 17 July 2024, subject to customary closing conditions, and will be listed and admitted to trading on Euronext Growth (Euronext Brussels).
Sibelco was supported by BNP & KBC acting as Joint Global Coordinators and by ABN AMRO, Commerzbank, HSBC & ING acting as Active Bookrunners.
CEO Hilmar Rode commented:
Sibelco’s funding position is very healthy, and this additional source of financing provides us with extra flexibility. Growth is a key element of our strategy, and the funds will be used to consolidate our financing requirements and add an additional liquidity point. We appreciate the banks’ and investors’ trust in Sibelco and the market’s view of Sibelco as a solid investment-grade company.
Hilmar Rode
CEO
