Antwerp, Belgium, 31 January 2013 – Euronav NV (“Euronav”) announced today the launch of an invitation to current bondholders to exchange (the “Exchange Offer”) any and all outstanding 6.50% convertible bonds due in January 2015 (the ”Existing Convertible Bonds”) for new 6.50% convertible bonds due in January 2018 (the “New Convertible Bonds”).
Through the Exchange Offer the company wishes to extend the medium term debt repayment obligations by extending the maturity date by 3 years in return for a more attractive conversion price. The conversion price will be EUR 5.65. At the time of the early voluntary conversion an additional number of shares will be made available at the same price as the conversion price to compensate for the unpaid coupons of the first 4 years. This feature as well as other terms can be consulted on the company’s website www.euronav.com.
The Exchange Offer is being conducted in accordance with the terms and conditions set forth in an exchange offer memorandum dated 31 January 2013 (the “Exchange Offer Memorandum”). The Exchange Offer is only made, and copies of the offering documents will only be made available (subject to applicable offer restrictions), to holders of Existing Convertible Bonds in Belgium and to holders of Existing Convertible Bonds who qualify as qualified investors in the European Economic Area, Switzerland and Monaco.
The Exchange Offer will expire at 5.00 P.M. CET on 5 February 2013, unless otherwise extended, re-opened or terminated as provided in the Exchange Offer Memorandum. The final results will be announced afterwards in a separate press release. The documents in connection with the Exchange Offer are available from the information and exchange agent BNP Paribas Securities Services, Luxembourg Branch, which can be contacted at the following number +352 2696 62301 and email address LU_BP2S_OFFER@bnpparibas.com, as well as from Euronav’s website www.euronav.com. Euronav has engaged Lazard and Daiwa Capital Markets Europe Limited to provide financial advisory services in connection with the Exchange Offer.
Upon the request of the company and after consultations with the FSMA, the trading of the shares listed on NYSE Euronext Brussels under the ticker EURN shall be suspended during the Exchange Offer.
Application is intended to be made for the admission of the New Convertible Bonds to the official list of the Luxembourg Stock Exchange and for the admission of the New Convertible Bonds to trading on the Luxembourg Stock Exchange’s Euro MTF Market.
Mr. Hugo De Stoop – CFO Tel: +32 3 247 44 11
Final year results 2012: Thursday, 21 March 2013
Annual report 2012 available on website: Thursday, 28 March 2013
Announcement first quarter results 2013: Tuesday, 16 April 2013
About Euronav: Euronav is one of the world’s leading independent tanker companies engaged in the ocean transportation and storage of crude oil and petroleum products. The company is headquartered in Antwerp, Belgium, and has offices throughout Europe and Asia. Euronav is listed on NYSE Euronext Brussels under the symbol EURN. Euronav employs its fleet both on the spot and period market. VLCCs on the spot market are traded in the Tankers International pool of which Euronav is one of the major partners. Euronav’s owned fleet, consists of 37 double hulled vessels being 1 V-Plus, 2 FSO vessels (both owned in 50%-50% joint venture), 11 VLCCs (of which 2 in joint venture), 22 Suezmaxes (of which 4 in joint venture) and 1 Suezmax under construction. Euronav vessels mainly fly Belgian, Greek and French flag. More detailed information can be found on the company’s website: www.euronav.com.
Regulated information within the meaning of the Royal Decree of 14 November 2007.
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