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Louis Dreyfus Company B.V. gives notice of its intention to redeem the US$350,000,000 Perpetual Resettable Step-Up Subordinated Bonds issued on 12 September 2012

July 28, 2017 at 8:02 AM

ROTTERDAM, THE NETHERLANDS, 28 July 2017- Louis Dreyfus Company B.V. (LDC) has given notice to holders that it intends to exercise the call option on its perpetual resettable step-up subordinated bonds issued in 2012, effective as of their first call option date on 12 September 2017.

These perpetual bonds were issued on 12 September 2012 for a total amount of US$350 million bearing an 8.25 per cent coupon. Part of the proceeds from LDC’s senior unsecured 5-year Euro-denominated and 6-year US Dollar-denominated bonds respectively issued in February and June 2017, will be used to repay the perpetual bonds, at 100 per cent of their nominal value plus accrued interest to the redemption date.

“Our cash flows will benefit from the lower coupons paid under the senior bonds compared to the perpetual bonds. We expect the redemption to have very limited impacts on our usual financial ratios,” explained Armand Lumens, Chief Financial Officer of Louis Dreyfus Company.

“By repaying the 2012 perpetual bonds and through the issuances of five- and six-year senior bonds in 2017, we will improve our financing conditions with only minor changes to our financing structure,” said Gonzalo Ramírez Martiarena, Chief Executive Officer of Louis Dreyfus Company. “At the same time, we will continue to focus on our key activities and on leading LDC to improved levels of profitability, aligned with our 5-year business plan.”


These materials do not constitute or form a part of any invitation, offer or solicitation to purchase or subscribe for securities in the United States or in any other jurisdiction in which, or to any person to or from which, it is unlawful to make such invitation, offer or solicitation under applicable laws and regulations and no action has been or will be taken in any jurisdiction that would permit a public offering of securities in such jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended.

This announcement is an advertisement and not a prospectus within the meaning of Directive 2003/71/EC of the European Parliament and the Council of 4 November 2003 as amended.

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Louis Dreyfus Company is a leading merchant and processor of agricultural goods, leveraging its global reach and extensive asset network to deliver for its customers around the world - safely, responsibly and reliably. Today we help to feed and clothe some 500 million people, originating, processing and transporting approximately 81 million tons of commodities annually.

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