Immobel hereby announces that on 4 October 2019 it will launch an issue of 7 ½ - year notes (the “7 ½ - year tranche”) for an aggregate minimum amount of 50,000,000 EUR and an aggregate maximum amount of 75,000,000 EUR. These notes will be issued in the form of a public offering in Belgium open to retail investors and, to a certain extent, qualified investors. The notes will be listed on the regulated market of Euronext Brussels.
The notes are issued in the context of Immobel’s Euro Medium Term Note (EMTN) programme, which has been set up on 24 September 2019. The EMTN programme provides Immobel with flexibility in terms of the placement of notes with qualified and retail investors with varying maturities up to a maximum issue amount of 250,000,000 EUR.
The net proceeds of the inaugural retail 7 ½ - year tranche will be used by Immobel for the financing of projects under development and the further development of its real estate portfolio in Europe.
These notes constitute debt instruments. Investment in notes involves risk. By subscribing for the notes, investors lend money to Immobel, which undertakes to pay interest annually (subject to a short first interest period) and to reimburse the principal on the maturity date. In the event of default on the part of Immobel or it becoming insolvent, investors may not recover the sums that they are entitled to and risk losing all or part of their investment.
Each decision to invest in these notes must be based solely on the information contained in the Base Prospectus dated 24 September 2019 and the Final Terms dated 1 October 2019 (including the issue-specific summary attached thereto). Investors must read the Base Prospectus in full (and in particular the “Risk factors” section of the Base Prospectus on pages 13 to 28) as well as the Final Terms (including the issue-specific summary attached thereto) before investing in the notes.
The issue price is set at 100 % of the nominal value of the notes. The offer price is set at 101.875 % of the nominal value of the notes, which comprises the issue price and a selling and distribution commission. The gross coupons amount to 3.000 %, payable on 14 April in each year and for the first time on 14 April 2020. The gross actuarial yield on the basis of the offer price will amount to 2.722 %, while the net actuarial yield (namely the gross yield less deduction of the withholding tax of 30%) will amount to 1.831 %.
The net proceeds of the issue of the notes are expected to amount to 74,912,150 EUR after deduction of the costs and expenses (in case the aggregate nominal amount for which notes are issued is 75,000,000 EUR) or 49,912,150 EUR after deduction of the costs and expenses (in case the aggregate nominal amount for which notes are issued is 50,000,000 EUR.
The notes will be governed by Belgian law and will be redeemable at the redemption price of 100% of their nominal value on the date on which they reach maturity, namely 14 April 2027.
The nominal value of each note is 1,000 EUR and the minimum subscription amount is also 1,000 EUR.
The subscription period will run from 4 October 2019 (9:00 a.m. CET) to 8 October 2019 (5:30 p.m. CET), subject to the possibility of early closure by Immobel as from 4 October 2019 at 5:30 p.m. CET. The payment date for the notes is set at 14 October 2019. Retail investors are encouraged to subscribe to notes on the first business day of the subscription period before 5.30 p.m. (CET).
BELFIUS and BNP PARIBAS FORTIS are acting in the capacity of “Joint Lead Managers”. BELFIUS is also mandated as agent in the context of the EMTN programme.
To subscribe for the notes or to obtain any information, investors may contact BELFIUS (Tel. +32 (0)2 222 12 01 (French) or +32 (0)2 222 12 02 (Dutch) or web link www.belfius.be/Immobel2019) and BNP PARIBAS FORTIS (Tel. +32 (0)2 433 41 34 (Dutch) or +32 (0)2 433 41 31 (French) or web link www.bnpparibasfortis.be/emissies (Dutch) or www.bnpparibasfortis.be/emissions (French)).
The Base Prospectus may be consulted on the websites of the Belgian Financial Services and Markets Authority (www.fsma.be), of the Issuer (www.immobelgroup.com) and of BELFIUS (www.belfius.be/Immobel2019) and BNP PARIBAS FORTIS (www.bnpparibasfortis.be/emissies (Dutch) or www.bnpparibasfortis.be/emissions (French)).
If you have a complaint to make, you can send it to:
Your local Belfius bank branch, your financial adviser or Belfius' Complaints Management Unit (number 7908), whose address is Place Charles Rogier 11, 1210 Brussels, or by email: firstname.lastname@example.org.
If you are not satisfied with the reply, you can contact Belfius Bank NV/SA, Negotiation (number 7913), Place Charles Rogier 11, 1210 Brussels, or by email: email@example.com.
BNP Paribas Fortis
BNP Paribas Fortis’ Complaints Management, whose address is Montagne du Parc 3, 1000 Brussels, or by email: firstname.lastname@example.org.
If you do not immediately obtain a solution after having contacted the aforesaid parties, you can send your complaint to the Financial Disputes Ombudsman (L’Ombudsman en conflits financiers), at North Gate II, Boulevard du Roi Albert II, 8, 1000 Brussels (www.ombudsfin.be).
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