On 24 September 2009 Fortis Finance announced its intention to launch a voluntary public offer in cash on its EUR 1.0 billion of outstanding debt under the European
Medium Term Notes (EMTN) programme and the Inflation Linked Notes. The public offer is part of Fortis' plan to proactively manage the legacy issues.
On 3 November 2009 the Belgian regulator CBFA approved the prospectus, which will be available as of the start of the acceptance period, being 10 November 2009. The acceptance period will close on 30 November 2009, and Fortis Finance will announce the results of the bid on 4 December 2009. The prospectus includes a complete list of all notes to which the public offer applies. Settlement of the bid price, including payment of accrued interest, will take place on 11 December 2009.
The bid price for all notes other than the structured notes is the nominal value of the note plus accrued interest; for the credit linked structured note with ISIN XS0173164780 the bid price amounts to 95.139% of the nominal value of the note, plus accrued interest, while for the inflation linked structured note with ISIN XS0181100834 the bid price amounts to 111.815% of the nominal value of the note, plus accrued interest.
As from 10 November 2009 an electronic version of the prospectus will be made available on Fortis' website (
www.fortis.com/Debtinvestors/index.asp). As of the same date, a paper version of the prospectus can be requested free of charge from Fortis Finance and BGL BNP Paribas.
The takeover bid is only made in Belgium, the Netherlands and Luxembourg. This press release does not constitute a public offering to purchase or sell nor a request by anyone in any jurisdiction where such a public offering or request is not permitted or by any person for whom it is unlawful to make such a public offering or request or to any person to whom it is unlawful to make such a public offering or request. No action has been taken (nor shall steps be taken) outside Belgium, the Netherlands or Luxembourg to enable a public offering in any jurisdiction where action would be required for that purpose. Accordingly, this press release may not be supplied to the public in any jurisdiction outside Belgium, the Netherlands or Luxembourg where a registration, qualification or any other obligation is in force or would be with regard to a public offering to purchase or sell. Any failure to comply with these restrictions may constitute a violation of the financial laws and regulations in other jurisdictions.
With insurance as core business, Fortis (
www.fortis.com) employs over 10,000 people in in Belgium and internationally. Its four key markets are Belgium, the United Kingdom, Continental Europe and Asia.
Fortis's 75%-owned subsidiary AG Insurance is the long-established leader in its domestic Belgian Life and Non-Life insurance markets. It is also a leading player in the Employee Benefits segment.
Outside Belgium, the wholly-owned subsidiary Fortis Insurance International is active in the three other markets through direct subsidiaries, joint ventures and local partnerships. Fortis is set to become the second largest motor insurer in the UK and the company is also applying its know-how in Asia to build high value-added partnerships.
In 2008, 54% of Fortis's insurance revenues were generated by the Belgian market and 46% by the three other markets.
Fortis additionally holds a 45% interest in the structured credit portfolio entity Royal Park Investments, and is the 100% owner of several financing vehicles, of which it manages the assets and liabilities.
The company is listed on Euronext (Brussels - Amsterdam).
Fortis's robust commitment to social responsibility is expressed through the activities of its Fortis Foundations, which are dedicated to philanthropy and promoting volunteer work.
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Press Contacts:
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Brussels:
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+32 (0)2 565 22 66 |
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Investor Relations:
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Brussels:
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+32 (0)2 565 53 78 |
Utrecht: |
+31 (0)30 226 65 66 |
http://hugin.info/134212/R/1353413/327815.pdf
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
