Ageas N.V.
Hieronder vindt u informatie uit het register openbaarmaking voorwetenschap. Deze informatie is door de organisatie verstrekt.
Publicatie datum
11 jul 2007 - 16:58
Statutaire naam
Ageas N.V.
Titel
Fortis prices an offering of Conditional Capital Exchangeable Notes (“CCENs”)
Bericht
THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, SOUTH AFRICA, CANADA, AUSTRALIA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW
11 July 2007
Fortis announces today that it has priced an offering (the “Offering”) of €2,000 million Conditional Capital Exchangeable Notes (“CCENs”). The CCENs will be issued by Fortis Bank nv-sa, Fortis Bank Nederland (Holding) N.V., Fortis SA/NV and Fortis N.V. as joint and several co-obligors (the “Issuers”). The CCENs represent senior unsecured obligations of the Issuers and will carry a coupon of 3 month EURIBOR + 15 bps payable quarterly in arrear.
The CCENs are mandatorily exchangeable into Mandatory Convertible Securities (“MCS”) upon the completion of a qualifying preferential rights issue to existing holders of Fortis shares made in connection with the funding of the ABN AMRO transaction (the “Rights Issue”). If there is no Rights Issue the CCENs will redeem at par on 4 August 2008.
The MCS, will be mandatorily convertible into fully paid ordinary shares of Fortis three years following the issue date of the MCS. The MCS will represent unsecured and subordinated obligations of the Issuers and will rank junior to any indebtedness or obligation, including any preference shares, of the Issuers, pari passu with the FRESH Capital Securities and senior to the ordinary shares of the Issuers.
The MCS will pay a fixed coupon amount of 8.75% of their principal amount per annum, payable semi-annually in arrear. The minimum conversion price is to be set at the Reference Price and the maximum conversion price is to be set at 120% of the Minimum Conversion Price.
The Reference Price of the MCS will be set at the average of the 30 daily Volume Weighted Average Prices of the Fortis Shares as quoted on each of Euronext Amsterdam and Euronext Brussels, calculated during the 30 trading days beginning 7 trading days following the successful
Gerelateerde downloads
Datum laatste update: 27 maart 2026