KION Finance S.A. successfully places Euro 650 million senior secured notes
KION GROUP GmbH /
KION Finance S.A. successfully places Euro 650 million senior secured notes
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
NOT FOR DISTRIBUTION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN
Luxembourg, 06 February 2013 - KION Finance S.A. has successfully placed senior
secured notes with a total principal value of Euro 650 million. KION Finance
S.A. will on-lend the net proceeds to companies of the KION Group, guaranteed by
KION Group GmbH and certain subsidiaries of KION Group GmbH, in order to
refinance KION Group's existing first lien loan indebtedness with maturity in
2014 and partially in 2015. The bond issuance partially extends the Group's debt
maturity profile into 2020 and diversifies its investor base. The transaction is
expected to close on 14 February 2013.
The senior secured notes due 2020 comprise a fixed rate tranche of Euro 450
million and a floating rate tranche of Euro 200 million. The fixed rate notes
were issued at par with a coupon of 6.75%, the floating rate notes were issued
at 99.5 and will pay a coupon of 3 month EURIBOR plus 4.5%.
The company
The KION Group - comprising the six brands Linde, STILL, Fenwick, OM STILL,
Baoli and Voltas - is Europe's market leader in industrial trucks, the global
number two in the industry and the leading international supplier in China. The
Linde and STILL brands serve the premium segment worldwide. Fenwick is the
largest supplier of material handling products in France, while OM STILL is a
market leader in Italy. The Baoli brand focuses on the economy segment, and
Voltas is one of the two market leaders in India. The KION Group employed more
than 22,000 people and generated revenue between Euro 4.65 and 4.75 billion in
2012 according to first estimates based on initial management reporting.
DISCLAIMER
Neither this announcement, the publication in which it is contained nor any copy
of it may be taken, transmitted or distributed, directly or indirectly, in or
into the United States of America (including its territories or possessions, any
state of the United States of America and the District of Columbia) ("the United
States"). Neither this announcement, the publication in which it is contained
nor any copy of it may be taken, transmitted or distributed, directly or
indirectly, in or into Australia, Canada or Japan or to any persons in any of
those jurisdictions or any other excluded territories. Any failure to comply
with this restriction may constitute a violation of United States, Australian,
Canadian or Japanese securities law. The distribution of this document in other
jurisdictions may be restricted by law and persons into whose possession this
document comes should inform themselves about, and observe, any such
restrictions.
This announcement does not constitute or form part of any offer or invitation to
sell, or any solicitation of any offer to purchase notes or any other securities
nor shall it (or any part of it) or the fact of its distribution, form the basis
of, or be relied on in connection with, any contract therefore. The offering and
the distribution of this announcement and other information in connection with
the offering in certain jurisdictions may be restricted by law and persons into
whose possession any document or other information referred to herein comes
should inform themselves about, and observe, any such restrictions. Any failure
to comply with these restrictions may constitute a violation of the securities
laws of any such jurisdiction.
In particular, this announcement does not constitute an offer for sale of, or a
solicitation to purchase or subscribe for, any securities in the United States,
Australia, Canada, Japan, Hong Kong or in any jurisdiction to whom or in which
such offer or solicitation is unlawful. Securities issued by KION Group
(including KION Finance S.A.) have not been and will not be registered under the
US Securities Act of 1933, as amended (the "Securities Act"). Securities issued
by companies of the KION Group (including KION Finance S.A.) may not be offered
or sold in the United States absent registration or an applicable exemption
from, or transaction not subject to, the registration requirements of the
Securities Act. Â No securities of companies of the KION Group (including KION
Finance S.A.) have been, or will be, registered under the securities laws of
Australia, Canada, Japan or Hong Kong. Subject to certain exceptions, no
securities of the KION Group may be offered or sold in Australia, Canada, Japan
or Hong Kong or to, or for the account or benefit of, any national, resident or
citizen of Australia, Canada, Japan or Hong Kong. KION Finance S.A. does not
intend to conduct a public offer of the Notes in the United States, Australia,
Canada, or Japan or Hong Kong.
This announcement does not constitute a recommendation concerning the offering.
Acquiring securities to which this announcement relates may expose an investor
to a significant risk of losing all of the amount invested. The price and value
of securities can go down as well as up. Past performance is not a guide to
future performance. Information in this announcement or any of the documents
relating to the offer cannot be relied upon as a guide to future performance.
Potential investors should consult a professional advisor as to the suitability
of the offer for the entity concerned.
Any liability (including in respect of direct, indirect or consequential loss or
damage) of any company or employee of the KION Group (including KION Finance
S.A.) with a view to the information contained in this press release is
expressly disclaimed. This press release does not purport to contain all of the
information that may be required to evaluate any proposed transaction, and any
recipient hereof should seek its own legal, accounting and other relevant
professional advice.
This document has been prepared on the basis that any offer of Notes in any
Member State of the European Economic Area ("EEA") which has implemented the
Prospectus Directive (2003/71/EC), as amended (each, a "Relevant Member State")
will be made pursuant to an exemption under the Prospectus Directive, as
implemented in that Relevant Member State, from the requirement to publish a
prospectus for offers of Notes. Accordingly any person making or intending to
make any offer in that Relevant Member State of Notes which are the subject of
the placement contemplated in this announcement may only do so in circumstances
in which no obligation arises for KION Group or any other person to publish a
prospectus pursuant to Article 3 of the Prospectus Directive or supplement a
prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in
relation to such offer. KION Group has not authorized, nor does it authorize,
the making of any offer of Notes in circumstances in which an obligation arises
for KION Group or any other person to publish or supplement a prospectus for
such offer.
This announcement is directed at and/or for distribution in the United Kingdom
only 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") or (ii) high net worth
entities falling within article 49(2)(a) to (d) of the Order (all such persons
are referred to herein as "relevant persons"). This announcement is directed
only at relevant persons. Any person who is not a relevant person should not act
or rely on this announcement or any of its contents. 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.
This release contains forward-looking statements that are subject to various
risks and uncertainties. Future results could differ materially from those
described in these forward-looking statements due to certain factors, e.g.
changes in business, economic and competitive conditions, regulatory reforms,
results of clinical trials, foreign exchange rate fluctuations, uncertainties in
litigation or investigative proceedings, and the availability of financing. KION
Group does not undertake any responsibility to update the forward-looking
statements in this release.
For further information please contact
Michael Hauger
Head of Corporate Communications
Tel.: +49 (0) 611 770 655
michael.hauger@kiongroup.com
www.kion-finance.com
www.kiongroup.com
Download Press Release [PDF 0.1 MB]:
http://hugin.info/137240/R/1676115/546149.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: KION GROUP GmbH via Thomson Reuters ONE
[HUG#1676115]