Umicore launches an offering of €500 million in convertible bonds due 2025

NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES OR IN OR INTO AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.

Umicore announces today the launch of an offering of senior unsecured convertible bonds due 2025, under the Company’s authorised capital for an aggregate principal amount of €500 million.

The net proceeds of the offering will be used for general corporate purposes and to fund Umicore’s strategic developments in the areas of clean mobility materials and recycling. This offering will further strengthen and diversify Umicore’s funding structure by complementing the €1.1 billion of medium- and long-term, fixed-rate private placement debt secured in recent years.

The Sole Global Coordinator and Bookrunner has informed the Company that, concurrently with the placement of the Bonds, it intends to conduct a simultaneous placement of existing Shares on behalf of subscribers of the Bonds who wish to sell such Shares in short sales in order to hedge the market risk of an investment in the Bonds, at a placement price to be determined by way of an accelerated bookbuilding process. The Company will not receive any proceeds from the Concurrent Equity Offering. The Reference Price for the Bonds is expected to be equal to the placement price of the Concurrent Equity Offering.

Groupe Bruxelles Lambert, Umicore’s largest shareholder, has indicated its intention to participate in the Concurrent Equity Offering.

J.P. Morgan Securities plc is acting as Sole Global Coordinator and Bookrunner for the offering. 

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Eva Behaeghe       

Aurélie Bultynck       

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Marjolein Scheers