Brussels – 5 May 2014 – Euronext Group N.V., a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), announces the successful bond listing by the city of Namur on its Brussels regulated market (Euronext Brussels).
The city of Namur has been the capital of Wallonia since December 11th, 1986, a region with 3.5 million inhabitants. Namur has a total area of 175.69 km² and has 110,096 inhabitants.
The bonds (Medium Term Notes) are admitted to listing on Euronext through a private placement offer with a total issued amount of € 25,000,000 reaching maturity on the 5th of May 2017 and the 5th of May 2019. The interest rates stand at 1.231% and 1.702%.
“We are pleased to welcome the city of Namur’s bond issue on Euronext Brussels”, said Vincent Van Dessel, CEO of Euronext Brussels. “Bonds offer an attractive source of additional funding that are both flexible and efficient, and we are convinced that our bond offering encourages investors to continue investing in the market. The successful placement of the city of Namur underscores the vital role capital markets can play in realising the strategic goals of all sorts of players”.
Alain Baetens, Head of Listings of Euronext Brussels: “We are delighted with the city of Namur’s strong appreciation of our outstanding Bond Listing and Trading Offer for professionally managed institutions, public authorities and companies. We look very much forward to a real partnership with the city of Namur in bringing them the full benefits of raising funds through the capital markets”.
Maxime Prévot, Mayor of Namur, commented: “It is with great enthusiasm that the City of Namur takes part in this innovative process for local authorities and their finances. With these bonds, with their lower costs - and certainly more attractive than conventional bank loans - and no financial risk for the municipal budget, the City will be able to raise financing for a series of major projects to support our capital city in its process of urban renewal”.
Today, to celebrate the introduction of the new bond, Maxime Prévot, Mayor of Namur, rang the bell to open trading on Euronext’s European market. He was accompanied by Vincent Van Dessel , Chairman and CEO of Euronext Brussels, and Alain Baetens, Head of Listings of Euronext Brussels.