Global law firm White & Case LLP has advised KBC Bank NV as the sole dealer manager and agent on the public exchange offer by Agfa-Gevaert on its 4.375 percent fixed rate bonds for a total amount of €189 million maturing June 2, 2015 in exchange for new bonds issued by Agfa-Gevaert maturing June 2, 2019.
Agfa-Gevaert is a Belgian company listed on NYSE Euronext Brussels which develops, produces and distributes an extensive range of analogue and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector as well as for specific industrial applications.
The transaction is the fifth public exchange offer in Belgium on existing bonds in exchange for new bonds by a Belgian corporate.
The tender period of the exchange ran from May 9, 2014 to May 22, 2014. At the end of the tender period, existing bonds representing an aggregate nominal amount of €42,329,000 were tendered into the exchange offer.
The new bonds will carry a fixed coupon of 5.35 percent payable annually in arrears. Settlement of the new bonds and the admission of the new bonds to trading on the regulated market of NYSE Euronext Brussels took place on June 2, 2014.
The White & Case capital markets team in Brussels which advised on this transaction was led by local partner Matthieu Duplat with the support of counsel Ferdinand Brughmans and associates Serkan Alhan and Laurent Lantonnois.
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