Lille, November 19, 2024 – Roquette, a global leader of plant-based ingredients and pharmaceutical excipients for the health and nutrition sectors, successfully priced (i) an inaugural issue of EUR 600 million undated deeply subordinated notes with a fixed rate of 5.494% until the first reset date (the Subordinated Notes) and (ii) an inaugural issue of EUR 600 million senior notes with a 3.774% fixed coupon (the Senior Notes and, together with the Subordinated Notes, the Notes). The Notes are intended to be admitted to trading on Euronext Paris.
The Senior Notes are expected to be rated BBB by S&P and the Subordinated Notes are expected to be rated BB+ by S&P with an intermediate equity content of 50%, subject to the closing of the acquisition of IFF Pharma Solutions.
The Notes offering was very well received by the market and largely oversubscribed, with a total final orderbook above EUR 3.1 billion (2.6 times oversubscribed). This outcome reflects strong investor confidence in the company’s growth strategy and solid credit profile. By entering the public and regulated markets, Roquette diversifies and strengthens its financing strategy, allowing it to continue investing in new growth opportunities and delivering value to all stakeholders.
The net proceeds of the Notes will notably be used for the refinancing of, or replacement of the remaining available commitments under the bridge acquisition facility of EUR 2.6 billion entered into by the company in the context of the acquisition of IFF Pharma Solutions.
Roquette was advised by BNP Paribas, Crédit Agricole CIB and Société Générale acting as Joint Global Coordinators and Joint Bookrunners and together with Crédit Industriel et Commercial, Goldman Sachs Bank Europe SE, HSBC, J.P. Morgan, and Natixis acting as Joint Bookrunners on the Notes offering.
DISCLAIMER
This press release is for information purposes only and does not constitute an offer to sell or a solicitation to purchase any securities in any jurisdiction. No action has been undertaken or will be undertaken to make available any notes to any retail investor in the European Economic Area. In France, a listing prospectus will be submitted to the approval of the French Autorité des marchés financiers for a listing of the notes on the regulated market of Euronext Paris. Settlement-delivery remains subject to this approval. This press release is not an offer for sale within the United States of any security of Roquette or any of its affiliates. Securities of Roquette or any of its affiliates may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or unless exempt from such registration. Release, publication or distribution of this press release is forbidden in any jurisdiction where such release, publication or distribution would violate applicable laws or regulations.
Contact
Roquette Financial Communications: Eloïse DE LA CHAUX, [email protected], +33760110409