Published: 08:11 11.07.2007 GMT+2 /Source: FORTIS /BXS: FORB /ISIN: BE0003801181
Fortis introduceert Conditional Capital Exchangeable Notes ("CCEN's")
Onderdeel van voorbereidingen voor financiering van aandeel Fortis in voorgesteld bod op ABN AMRO
Fortis maakt vandaag de voorgenomen emissie (de "Emissie") bekend van Conditional Capital Exchangeable Notes ("CCEN's") voor een totaal bedrag tot EUR 2 miljard. De CCEN's zullen worden uitgegeven door Fortis Bank NV/SA, Fortis Bank Nederland (Holding) N.V., Fortis SA/NV en Fortis N.V. als hoofdelijke medeschuldenaars (de "Emittenten"). De CCEN's vertegenwoordigen niet door zekerheden gedekte verplichtingen van de Emittenten met voorrang boven andere schulden en zullen naar verwachting een coupon hebben van 3-maands EURIBOR + 15 - 20 basispunten, achteraf per kwartaal betaalbaar.
De CCEN's zijn verplicht inwisselbaar in verplicht converteerbare effecten, Mandatory Convertible Securities ("MCS's"), op het moment van de afronding van een claimemissie voor bestaande houders van aandelen Fortis in verband met de financiering van de ABN AMRO-transactie (de "Claimemissie"). Indien er geen Claimemissie plaatsvindt, geschiedt de aflossing à pari per 4 augustus 2008.
De MCS's zijn drie jaar na de uitgiftedatum verplicht converteerbaar in volgestorte gewone aandelen Fortis. De MCS's vertegenwoordigen niet door zekerheden gedekte verplichtingen van de Emittenten, achtergesteld bij alle andere schulden of verplichtingen en preferente aandelen van de Emittenten. De MCS's zijn echter gelijk in rang (pari passu) met de FRESH Capital Securities en hebben voorrang op de gewone aandelen van de Emittenten.
De referentiekoers van de MCS's wordt vastgesteld als het gemiddelde van de 30-daagse volumegewogen gemiddelde koersen (Volume Weighted Average Prices) van de aandelen Fortis zoals genoteerd aan zowel Euronext Amsterdam als Euronext Brussel. De referentiekoers zal worden berekend gedurende de periode van 30 handelsdagen die ingaat op de zevende handelsdag na de succesvolle afronding van de Claimemissie.
De Emissie zal naar verwachting vandaag worden geprijsd en de sluiting van de transactie zal naar verwachting plaatsvinden op of rond 2 augustus 2007.
De transactie stelt Fortis in staat pro-actief te voorzien in de geplande vermogensbehoeften in verband met het voorgestelde bod op ABN AMRO, door middel van een voorwaardelijk instrument dat niet leidt tot de uitgifte van kapitaal tenzij dat nodig is. Met de opbrengst van de Emissie zal geheel of gedeeltelijk rekening worden gehouden indien Fortis vervolgens besluit tot uitbreiding van het kapitaal van Fortis SA/NV en Fortis N.V. in het kader van de voorgenomen claimemissie.
Merrill Lynch International is de Joint Lead Manager en Bookrunner en Fortis Bank is de Joint Lead Manager en co-Bookrunner voor deze emissie.
Fortis is een internationale financiële dienstverlener op het gebied van bankieren en verzekeren. Wij bieden onze particuliere, zakelijke en institutionele klanten een breed pakket van producten en diensten via de eigen kanalen, in samenwerking met het intermediair en via andere distributiepartners. Met een marktkapitalisatie van EUR 41,1 miljard (29-06-2007), behoort Fortis tot de twintig grootste financiële instellingen van Europa. Onze sterke solvabiliteit, onze aanwezigheid in 50 landen en de toewijding en het professionalisme van onze 60.000 medewerkers stellen ons in staat om mondiale kracht te combineren met lokale flexibiliteit, een combinatie die garant staat voor optimale dienstverlening. Meer informatie is beschikbaar op
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THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO BUY ANY EXCHANGEABLE BONDS.
THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER"), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER, AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS"). THIS COMMUNICATION MUST NOT BE READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS. BY READING THIS ANNOUNCEMENT, THE READER ACKNOWLEDGES THAT IT IS A PERSON EITHER (I) OUTSIDE THE UNITED KINGDOM OR (II) FALLING WITHIN ONE OF THE FOREGOING CATEGORIES.
IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ("EEA"), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF ARTICLE 2(1)(E) OF THE DIRECTIVE 2003/71/EC (THE "PROSPECTUS DIRECTIVE") ("QUALIFIED INVESTORS"). ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER (AN "INVESTOR") OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR.
THIS ANNOUNCEMENT IS A SUMMARY ONLY, AND DOES NOT PURPORT TO IDENTIFY OR SUGGEST THE RISKS (DIRECT OR INDIRECT) WHICH MAY BE ASSOCIATED WITH YOUR INVESTMENT IN THE CCENS OR THE MCS.
THE BOOKRUNNERS ARE ACTING FOR THE ISSUERS IN CONNECTION WITH THE OFFERING, AND FOR NO-ONE ELSE AND WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN THE ISSUERS FOR PROVIDING THE PROTECTIONS AFFORDED TO CLIENTS OF THE BOOKRUNNERS OR FOR PROVIDING ADVICE IN RELATION TO THE OFFERING, AND THE BOOKRUNNERS MAKE NO REPRESENTATIONS AS TO THE ACCURACY OF AND TAKE NO RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT OR ANY MATTERS REFERRED TO HEREIN.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT TO BE RELIED UPON IN SUBSTITUTION FOR THE EXERCISE OF INDEPENDENT JUDGEMENT. IT IS NOT INTENDED AS INVESTMENT ADVICE AND UNDER NO CIRCUMSTANCES IS IT TO BE USED OR CONSIDERED AS AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO BUY ANY CCENS OR MCS OR A RECOMMENDATION TO BUY OR SELL ANY CCENS OR MCS. NEITHER THE BOOKRUNNERS NOR ANY OF THEIR RESPECTIVE AFFILIATES ACCEPTS ANY LIABILITY ARISING FROM THE USE OF OR MAKES ANY REPRESENTATION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT.
EACH PERSON READING THIS ANNOUNCEMENT SHOULD CONSULT HIS/HER PROFESSIONAL ADVISER TO ASCERTAIN THE SUITABILITY OF THE CCENS OR MCS AS AN INVESTMENT. IN ADDITION, HAVING READ THIS ANNOUNCEMENT, EACH PROSPECTIVE INVESTOR SHOULD PROCEED ON THE ASSUMPTION THAT IT MUST BEAR THE ECONOMIC RISK OF AN INVESTMENT IN THE CCENS OR MCS FOR AN INDEFINITE PERIOD. NONE OF THE ISSUERS NOR THE BOOKRUNNERS MAKES ANY REPRESENTATION AS TO (I) THE SUITABILITY OF THE CCENS OR MCS FOR ANY PARTICULAR INVESTOR, (II) THE APPROPRIATE ACCOUNTING TREATMENT AND POTENTIAL TAX CONSEQUENCES OF INVESTING IN THE CCENS OR MCS OR (III) THE FUTURE PERFORMANCE OF THE CCENS OR MCS EITHER IN ABSOLUTE TERMS OR RELATIVE TO COMPETING INVESTMENTS.
IN CONNECTION WITH THE OFFERING, THE BOOKRUNNERS AND THEIR RESPECTIVE AFFILIATES MAY, FOR THEIR OWN ACCOUNT, ENTER INTO ASSET SWAPS, CREDIT DERIVATIVES OR OTHER DERIVATIVE TRANSACTIONS RELATING TO THE CCENS AND/OR MCS AND/OR THE UNDERLYING ORDINARY SHARES AT THE SAME TIME AS THE OFFER AND SALE OF THE CCENS OR MCS OR IN SECONDARY MARKET TRANSACTIONS. EACH OF THE BOOKRUNNERS OR ANY OF THEIR RESPECTIVE AFFILIATES MAY FROM TIME TO TIME HOLD LONG OR SHORT POSITIONS IN OR BUY AND SELL SUCH CCENS OR MCS OR DERIVATIVES OR THE UNDERLYING ORDINARY SHARES. NO DISCLOSURE WILL BE MADE OF ANY SUCH POSITIONS. THE AMOUNT OF ANY SUCH PURCHASES WILL BE DETERMINED AT THE TIME OF PRICING OF THE CCENS OR MCS AND WILL BE SUBJECT TO TOTAL DEMAND RECEIVED AND FINAL ALLOCATIONS. IN ADDITION, EACH OF THE BOOKRUNNERS AND THEIR RESPECTIVE AFFILIATES MAY PERFORM SERVICES FOR, OR SOLICIT BUSINESS FROM, THE ISSUERS MAY MAKE MARKETS IN THE SECURITIES OF THE ISSUERS AND/OR HAVE A POSITION OR EFFECT TRANSACTIONS IN SUCH SECURITIES.
Fortis Bank