Wolters Kluwer Intends to Issue a New Benchmark Eurobond and to Conditionally Call Its Perpetual Bonds in 2013
February 20 2013 - 1:01AM
Alphen aan den Rijn
(February 20, 2013) - Wolters Kluwer, a market-leading global
information services company focused on professionals, today
announced its intention to issue a benchmark Eurobond in the debt
capital markets. Conditional on the successful completion of this
Eurobond, the company intends to exercise a call option on its €225
million perpetual cumulative subordinated bonds in
2013.
Wolters Kluwer has mandated ABN Amro, Barclays,
Rabobank International, and The Royal Bank of Scotland to arrange a
series of European fixed income investor meetings from March 4 to
March 6, 2013. A senior, unsecured capital markets
transaction of benchmark size may follow, subject to market
conditions.
The net proceeds of the bond will be used by
Wolters Kluwer to refinance part of its 2014 Eurobond maturity and
the call of the outstanding perpetual bonds in 2013. "The current
environment with low underlying interest rates also provides an
opportunity for attractive financing. On completion, the
refinancing exercise will lower our effective interest rate
starting 2014." says Boudewijn Beerkens, CFO and Member of
Executive Board.
About Wolters
Kluwer
Wolters Kluwer is a leading global information services and
solutions company. It provides information, software, and services
that help legal, tax, finance, and healthcare professionals make
their most critical decisions effectively and with confidence.
Customers depend on Wolters Kluwer services and solutions to
successfully move through the complex layers of data and regulation
that define modern business and government.
Wolters Kluwer had 2012 annual revenues of €3.6
billion. The group employs over 19,000 people worldwide and
maintains operations in over 40 countries across Europe, North
America, Asia Pacific, and Latin America. The company is
headquartered in Alphen aan den Rijn, the Netherlands. Wolters
Kluwer shares are quoted on Euronext Amsterdam (symbol: WKL) and
are included in the AEX and Euronext 100 indices.
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Forward-looking
Statements
This press release contains forward-looking
statements. These statements may be identified by words such as
"expect", "should", "could", "shall" and similar expressions.
Wolters Kluwer cautions that such forward-looking statements are
qualified by certain risks and uncertainties that could cause
actual results and events to differ materially from what is
contemplated by the forward-looking statements. Factors which could
cause actual results to differ from these forward-looking
statements may include, without limitation, general economic
conditions; conditions in the markets in which Wolters Kluwer is
engaged; behavior of customers, suppliers, and competitors;
technological developments; the implementation and execution of new
ICT systems or outsourcing; and legal, tax, and regulatory rules
affecting Wolters Kluwer's businesses, as well as risks related to
mergers, acquisitions, and divestments. In addition, financial
risks such as currency movements, interest rate fluctuations,
liquidity, and credit risks could influence future results. The
foregoing list of factors should not be construed as exhaustive.
Wolters Kluwer disclaims any intention or obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Media |
Investors/Analysts |
Caroline Wouters |
Meg Geldens |
t + 31 (0)172 641 459 |
t + 31 (0)172 641 407 |
press@wolterskluwer.com |
ir@wolterskluwer.com |
PDF version of Press
Release
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: Wolters Kluwer NV via Thomson Reuters ONE
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