THIS ANNOUNCEMENT IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW
Renewi plc Belgian Retail Bond Launch
Renewi plc (LSE: RWI), the international waste-to-product business, today launches a Green Bond Issue (the "Notes") to retail investors in Belgium to raise up to €75m at a gross coupon of 3% for a period of five years to July 2024.
The issuance will complete our conversion to become completely Green funded for our long term borrowings, including all Bonds and the European Private Placement ("EUPP"), Term Loan and Revolving Credit Facility. The new issuance, combined with the €25m Green EUPP issued last December, and the proceeds from our disposals, will ensure that the Group has significant long-term headroom on its borrowing facilities.
This is the first Green Bond issuance since the merger of Shanks and Van Gansewinkel created Renewi plc, the largest recycling company with a nationwide Belgian footprint. This issue builds upon a long track record of successful Shanks Group Belgian Retail Bond issuances in 2010, 2013 and 2015.
The net proceeds of the Notes will be fully deployed in support of Green investments in waste recycling, waste treatment, waste collection, and production of energy from waste, in accordance with our Green Finance Framework and to partially refinance existing debt including the 2013 €100m Bond which matures on 30 July. The Green Finance Framework describes the use of proceeds, project selection, management of proceeds and reporting. The second party opinion, provided by Sustainalytics, confirmed that the framework is credible and impactful and aligns with the four pillars of the Green Bond Principles 2017 and Green Loan Principles 2018, noting a best practice approach in key areas.
The Notes, which will have an issue price of 101.875, are available in denominations of €1,000, and will be listed on the main market of the London Stock Exchange. The manager for the transaction is ING Bank NV. The prospectus for the issuance is available on the company's website. The subscription period will run from 5 July 2019 and is expected to close on 12 July 2019, subject to early closing.
To view the Prospectus dated 2 July 2019 please see our website www.renewiplc.com.
Toby Woolrych, Chief Financial Officer of Renewi plc, commented:
"We are pleased to be launching the issue of the Notes as another Green Bond in the Belgian market, our first since the creation of Renewi plc in 2017. The issue will complete our conversion to Green financing, strengthen our funding position and support our ongoing investments in waste-to-product across the Benelux."
THIS ANNOUNCEMENT IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY ANY OF THE BONDS REFERRED TO HEREIN AND SHALL NOT CONSTITUTE AN OFFER, SOLICITATION NOR SALE IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE IS UNLAWFUL, INCLUDING BUT NOT LIMITED TO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.
THE BONDS REFERRED TO IN THIS DOCUMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE US SECURITIES ACT OF 1933 (THE "SECURITIES ACT") OR UNDER THE SECURITIES LEGISLATION OF ANY STATE OF THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OTHER THAN PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE ISSUER DOES NOT INTEND TO MAKE A PUBLIC OFFER OF SECURITIES IN THE UNITED STATES OR TO REGISTER ANY SECURITIES UNDER THE SECURITIES ACT.
Disclaimer - Intended Addressees
Please note that the information contained in the Prospectus may be addressed to and/or targeted at persons who are resident of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Prospectus is not addressed.
Prior to relying on the information contained in the Prospectus you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.
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For further information:
+44 20 3727 1340
Renewi is a leading waste to product company that gives new life to used materials every day. We have more than 7,000 employees working at 189 operating sites across Europe and North America. Our extensive operational network means we are always close to our customers.
For Renewi, waste is a state of mind, and an opportunity. Our many years of knowledge and experience, combined with a broad range of services, allow us to offer sustainable, practical recycling solutions. We use innovation and the latest technology to turn waste into useful materials such as paper, metal, plastic, glass, wood, building materials, compost and energy. In other words, we turn today's waste into tomorrow's raw materials.
The result of our work is less waste and contamination, a smarter use of scarce raw materials, and a reduction in carbon emissions. This means that we are contributing towards a cleaner, circular world in which we "waste no more".
Renewi was created in 2017, following the merger of Shanks Group plc with Van Gansewinkel Groep BV, and is listed on the London Stock Exchange. Visit our website for more information: www.renewiplc.com. Images are available at www.renewiplc.com/imagelibrary.
About Renewi Belgium
Renewi has a complete national coverage in Belgium with approximately 30% market share being the largest waste collection and processing operation with a #1 position in most waste segments. Our c2000 Belgian employees process c3 million tonnes of waste every year across our 40+ operating sites.
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