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Wendel: bonds exchangeable for Bureau Veritas shares

( - Wendel, which holds 35.
5% of Bureau Veritas' capital and 51.7% of its voting rights, announces its intention to issue bonds exchangeable for Bureau Veritas shares maturing in 2026, for a nominal amount of approximately E750m.

These bonds will be issued at a 25% premium to the reference price of Bureau Veritas shares. Wendel intends to use the proceeds of this issue to finance its general corporate purposes and to diversify its financing sources.

Upon completion of this transaction, Wendel will retain control of Bureau Veritas and, in the event that the bonds are exchanged in full at maturity, will retain a stake of about 30.6% of capital and 46.1% of its voting rights.

The bonds will only be offered to qualified investors. The final terms and conditions will be determined following the completion of the order book. Settlement and delivery is expected to take place on 27 March.

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