Bekaert proposes exchange offer for €150 million 6.75% bonds due 2014

By Marisa Wong

Madison, Wis., Sept. 19 - NV Bekaert SA said it plans to launch a public offer to exchange all €150 million of its 6.75% bonds due April 16, 2014 for new 4.75% bonds due October 2020.

Bekaert is aiming to extend the maturity of a portion of its total existing bond financing, according to a press release.

Under the proposed exchange offer, one new seven-year bond will be issued for each existing five-year bond.

BNP Paribas Fortis, ING and KBC Bank will act as dealer managers, and KBC Bank will also act as global coordinator.

The proposed offer is subject to approval by the Belgian Financial Services and Markets Authority.

Bekaert specializes in steel wire transformation and coatings. The multinational company is based in Kortrijk, Belgium.

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