September 4, 2012, Louis Dreyfus Commodities (LDC) priced a highly successful US $350 MM, 8.25% coupon hybrid capital securities private placement transaction, targeting primarily the Asian and Swiss investors. This is LDC’s inaugural transaction in the capital markets. The deal met with strong reception and the order book was more than three times oversubscribed. The high level of demand demonstrates the confidence that LDC receives from investors, as well as the company’s acceptance as a reliable issuer.
Serge Schoen, Chief Executive Officer of Louis Dreyfus Commodities “This transaction will enable LDC to increase its financial flexibility as well as diversify its sources of funding to support its growth strategy. It constitutes a landmark transaction in the long history of LDC as it marks our entry on the capital markets and we have been pleased by the level of interest from the investor community as it reflects investors’ confidence in the strengths of LDC’s business model and credit profile.”
These securities are perpetual but LDC has the right to redeem them in certain circumstances. The LDC bond offers an initial fixed coupon of 8.25% and is issued at par. The securities are not rated and application has been made to list on the Official List of the Singapore Exchange. Joint Bookrunners and Structuring Advisers were Citigroup, Credit Suisse and HSBC.
Louis Dreyfus Commodities is a global agri-commodities leader. The Group’s portfolio includes Oilseeds, Grains, Rice, Freight, Finance, Juice, Cotton, Coffee, Sugar, Metals, Milk, Fertilizers and Sugar and Ethanol mills businesses.
With 160 years in the commodities business, Louis Dreyfus Commodities maintains a dynamic culture with 35 000 employees at peak season, and offices in more than 55 countries. For more information, visit www.ldcommodities.com.
Louis Dreyfus Commodities contact: [email protected]
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This document does not, and shall not, in any circumstances, constitute a public offering nor an invitation in any jurisdiction in connection with any offer, including in particular the United States, United Kingdom, France, The Netherlands, Singapore, Hong Kong, Brazil and Switzerland.
It may be unlawful to distribute this document in certain jurisdictions. This document is not for distribution in the United States, Canada, Japan or Australia. The information in this document does not constitute an offer of securities for sale in the United States, Canada, Japan or Australia.
This document does not constitute or form part of an offer or solicitation of an offer to purchase or subscribe for securities in France. The securities referred to herein may not be and will not be offered or sold to the public in France except to qualified investors (“investisseurs qualifiés”) acting for their own account, as defined in, and in accordance with Articles L. 411-2 and D. 411-1 to D. 411-3 of the French Monetary and Financial Code.
This document is only being distributed to, and is only directed at, persons in the United Kingdom that (i) are “investment professionals” falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations, etc.”) of the Order, or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.
This document has been prepared on the basis that any offer of Notes in any Member State of the European Economic Area (“EEA”) which has implemented the Prospectus Directive (2003/71/EC) (each, a “Relevant Member State”) will be made pursuant to an exemption under the Prospectus Directive, as implemented in that Relevant Member State, from the requirement to publish a prospectus for offers of Notes. Accordingly any person making or intending to make any offer in that Relevant Member State of Securities which are the subject of the placement contemplated in this document may only do so in circumstances in which no obligation arises for LDC or any of the banks in charge of the placement contemplated in this document to publish a prospectus pursuant to Article 3 of the Prospectus Directive, as amended by the Amending Prospectus Directive (2010/73/UE) or supplement a prospectus pursuant to Article 16 of the Prospectus Directive, as amended by the Amending Prospectus Directive (2010/73/UE), in each case, in relation to such offer. Neither LDC nor the banks in charge of the placement contemplated in this document have authorized, nor do they authorize, the making of any offer of Notes in circumstances in which an obligation arises for LDC or any of the banks in charge of the placement contemplated in this document to publish or supplement a prospectus for such offer.
This document is an advertisement and not a prospectus for the purposes of applicable measures implementing Directive 2003/71/EC.
This press release is not an offer of securities for sale in the United States or any other jurisdiction. Securities may not be sold or offered in the United States unless they are registered or are exempt from registration under the U.S. Securities Act of 1933, as amended. LDC does not intend to register any portion of this Offering in the United States or to conduct a public offering of securities in the United States. Copies of this press release are not being, and should not be, distributed in or sent into the United States.