FrieslandCampina Secures €496 Million in ESG-Linked Notes for Long-Term Financing

FrieslandCampina Secures €496 Million in ESG-Linked Notes for Long-Term Financing

(IN BRIEF) Dutch dairy cooperative FrieslandCampina has successfully secured €496 million (approximately $567 million) in long-term financing through the issuance of ESG-linked notes. The offering received significant interest from investors in Europe and North America. The funds will be used to repay maturing debts in 2024 and consist of four tranches with maturities in 2032, 2034, and 2036. The average interest rate on the loans will be 4.99 percent. FrieslandCampina’s Chief Financial Officer, Hans Janssen, expressed confidence in the company’s future as a result of the placement. JP Morgan, Rabobank, ING, and MUFG supported the launch and pricing of the USPP notes.

(PRESS RELEASE) AMERSFOORT, 17-Nov-2023— /EuropaWire/ — FrieslandCampina has entered into an agreement for the issuance of privately placed notes, which would constitute long-term financing of 400 million euros and 100 million dollar (together 496 million euros equivalent). The ESG-linked notes will be issued in the US Private Placement (USPP) market. Final closing, issuance of the notes and funding is scheduled for 1 February 2024 and is subject to standard closing conditions. Once closed and funded, the proceeds will be used to repay maturing debts in 2024. The loans consist of four tranches with maturities due in 2032, 2034 and 2036.

The offer received an overwhelming response from the market, attracting investors from both Europe and North America. The final transaction includes a tranche of 100 million dollars in notes that will mature in 2032, as well as tranches aggregating 400 million euros in notes, with maturity dates in 2032, 2034 and 2036. The average interest rate on the loans will be 4.99 percent.

Hans Janssen, Royal FrieslandCampina N.V.’s Chief Financial Officer: “The successful launch of the notes offering is a testament to the high demand for our company’s ESG-linked USPP notes. This placement will solidify our long-term funding. The overwhelming response confirms investors’ confidence in FrieslandCampina’s future.”

FrieslandCampina launched and priced its USPP notes with the support of JP Morgan, Rabobank, ING and MUFG.

Disclaimer
FrieslandCampina offered the notes to certain institutional investors in an exempt private placement made pursuant to the exemption from registration requirements under Section 4(a)(2) of the U.S. Securities Act of 1933, as amended (the “Act”). The notes have not been and will not be registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act.

This notice does not constitute an offer to sell or the solicitation of an offer to buy any security, in the United States or elsewhere, and in any event shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This publication may contain certain forward-looking statements, e.g., statements including terms like “expect”, “may”, “could”, “will” or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of FrieslandCampina and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. FrieslandCampina assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

Media Contact:

Jan-Willem ter Avest
+31 (0)6 836 399 40
press@frieslandcampina.com

Source: FrieslandCampina