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Wienerberger AG: Wienerberger bond issue pays a coupon of 5.0% p.a.
NOT FOR DISTRIBUTION IN THE USA, UK, CANADA, JAPAN OR AUSTRALIA.
Vienna
(pta008/11.01.2012/08:50 UTC+1)
Issue volume of at least Euro 50 mn (increase possible)
- Coupon of 5.0% per year
- 3.5-year term
- Proceeds will be used for general corporate purposes and to further strengthen the financial base of the Wienerberger Group
Wienerberger AG, the world's largest producer of bricks and number one on the clay roof tile market in Europe, received the approval of the responsible Luxembourg regulator, the Commission de Surveillance du Secteur Financier (the "CSSF"). As already announced yesterday, the bond will have a volume of at least Eur 50 million, a 3.5-year term and a denomination of Eur 1,000. The yearly coupon for the issue has been fixed at 5.0%. The subscription period runs from January 13 to 27, 2012. The issue will be listed for trading on the Luxembourg Stock Exchange and the Vienna Stock Exchange.
Going forward Wienerberger plans to continuously take advantage of opportunities to issue smaller bonds
Wienerberger has a strong capital structure. As of September 30, 2011, the Wienerberger Group had a gearing ratio of only 21% and an equity ratio of 62% with a reported cash reserve at Euro 506 million. Gross debt amounted to roughly Euro 1.1 billion, of which corporate bonds outstanding made up about Euro 590 million and about Euro 490 million were financial liabilities. In accordance with IFRS accounting rules, the hybrid bond is accounted for as equity and hence is not included in financial liabilities. With this new bond Wienerberger is taking advantage of a market opportunity to further strengthen the capital structure. Having already secured the refinancing requirements of Euro 400 million for 2012, the new issue, aims to enlarge liquidity reserves in line with the goals of the Wienerberger financing strategy: maintaining the Group's strong capital structure and proactively managing liquidity and maturity profile. Going forward, Wienerberger plans to continuously take advantage of opportunities for issuing smaller bonds to maintain the strong financial base.
Wienerberger with leading market positions in its core business
Wienerberger is the world's largest producer of bricks (Porotherm, Poroton, Terca) and the number one on the clay roof tile market (Koramic, Tondach) in Europe as well as for concrete pavers (Semmelrock) in Central-East Europe. In the market for pipe systems (ceramic pipes under the Steinzeug-Keramo brand and plastic pipes under the Pipelife brand), Wienerberger claims a leading position in Europe. Wienerberger, currently operating 232 production sites, generated Euro 1,744.8 million in group revenues in 2010.
Termsheet
[table]Issuer: #Wienerberger AG
Type of Issue: #Bond
Issue volume: #At least Euro 50 million (increase possible)
Use of proceeds: #General corporate purposes
Denomination: #Euro 1,000
Coupon: #5.00% p.a. (gross coupon) to be paid each year on August 1
Annual gross actuarial return: #4.614% (on the Issue Price)
Term: #3.5 years
Issue price: #101.25%, including the bank's selling and distribution commission of 1.5% (borne by retail investors)
Ranking: #Senior unsecured unsubordinated bonds
Redemption at maturity: #100% at the end of term 2015
Listing: #Luxembourg Stock Exchange (regulated market) and Second Regulated Market (Geregelter Freiverkehr) of the Vienna Stock Exchange (Wiener Börse)
Subscription period: #From January 13 to January 27, 2012 (early closing possible)
Issue date and payment date: #February 1, 2012
Maturity date: #August 1, 2015
Rating of Issuer: #Long term: BB (stable outlook) S&P / Ba1 (negative outlook) Moody's
Paying agent: #BNP Paribas Securities Services, Luxemburg
ISIN code: #XS0731071055
Invitation to Subscription: #BNP Paribas Fortis and KBC Bank NV
Governing law: #The Bonds will be governed by, and construed in accordance with, Austrian law.
Costs: #Free financial service from the Managers. Deposit on a securities account at the financial intermediary's current usual rate.
#All payments by the Issuer in respect of the Bonds will be made without withholding or deduction for or on account of Austrian taxes subject as provided in the Terms and Conditions of the Bonds.
Taxation: #Income collected by private investors is liable to the Belgian withholding tax, at the current rate of 21% (plus a possible additional levy of 4%).
#Please refer to the Prospectus for more information on the taxation regime.[/table]
THIS PRESS RELEASE CONSTITUTES NEITHER AN OFFER TO SELL NOR A SOLICITATION TO BUY ANY SECURITIES OF WIENERBERGER AG. A PUBLIC OFFER OF SECURITIES OF WIENERBERGER AG MAY ONLY BE MADE IN AUSTRIA ON THE BASIS OF A PROSPECTUS APPROVED BY THE COMMISSION DE SURVEILLANCE DU SECTEUR FINANCIER, PUBLISHED AND NOTIFIED TO AUSTRIA AND BELGIUM, WHICH WOULD THEN BE AVAILABLE FREE OF CHARGE DURING ORDINARY BUSINESS HOURS AT WIENERBERGER AG, WIENERBERGSTRASSE 11, 1100 WIEN AND WHICH COULD THEN BE REVIEWED IN ELECTRONIC FORM ON THE WEBSITE OF THE ISSUER (WWW.WIENERBERGER.COM) AND OF THE LUXEMBOURG STOCK EXCHANGE (WWW.BOURSE.LU). ANY SECURITIES ORDERS RECEIVED PRIOR TO THE COMMENCEMENT OF A PUBLIC OFFER WILL BE REJECTED.
IN CONNECTION WITH AN OFFER OF SECURITIES OF WIENERBERGER AG ONLY THE INFORMATION IN THE PROSPECTUS WILL BE BINDING. ANY INFORMATION IN THIS PRESS RELEASE IS NOT BINDING.
THIS PRESS RELEASE AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA AND MUST NOT BE DISTRIBUTED TO U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED ("SECURITIES ACT")) OR TO PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO PURCHASE ANY SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFER OF SECURITIES OF COMPANY IN THE UNITED STATES.
For additional information contact:
Barbara Braunöck, Head of Investor Relations
T +43 1 60192-471 | communication@wienerberger.com
If you do not wish to receive the Wienerberger newsletter any longer, send an e-mail with subject: "unsubscribe newsletter" to communication@wienerberger.com.
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Emitter: |
Wienerberger AG Wienerbergstraße 11 1100 Wien Austria |
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Contact Person: | Barbara Braunöck | |
Phone: | +43 1 60192-471 | |
E-Mail: | communication@wienerberger.com | |
Website: | www.wienerberger.com | |
ISIN(s): | AT0000831706 (Share) | |
Stock Exchange(s): | Vienna Stock Exchange (Official Trade) |