Home > Media > News > Barry Callebaut issues EUR165M 91/4% Senior Subordinated Notes

Barry Callebaut issues EUR165M 91/4% Senior Subordinated Notes

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March 18, 2003
Overview

Zurich/Switzerland, March 18, 2003 – Barry Callebaut Services N.V., a wholly-owned finance subsidiary of Barry Callebaut AG, priced a EUR165m senior subordinated notes issue on Friday, March 7, 2003. The issue priced on a book building basis at a 9.25% coupon. The notes were structured with the guarantees of certain material subsidiaries of Barry Callebaut. The notes, which will mature in 2010, are rated BB- / B1.

The offering created overwhelming demand and priced 87.5 basis points lower than any senior subordinated notes issue over the past six months.

Proceeds of the issue are used to refinance existing short and long term indebtedness.

The payment date was on March 13, 2003. Application has been made to list the notes on the Luxembourg Stock Exchange.

This announcement is not an offer for sale of securities in the United States. The notes referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer has not and does not intend to register any portion of the offering of the notes in the United States or to conduct a public offering of the notes in the United States. Any offer of the notes to be made in the United States will be made only pursuant to an exemption from registration under the U.S. Securities Act of 1933, as amended by means of an offering memorandum, which will contain detailed information about the issuer and Barry Callebaut and its management and financial statements.

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For further information, please contact:

Dr. Ralph Schmitz-Dräger, CFO
Barry Callebaut AG
Phone +41 1 388 61 42
Fax +41 1 388 61 53

About Barry Callebaut AG:

With annual sales of CHF 2.6 billion for fiscal year 2001/02, Barry Callebaut is the world’s leading manufacturer of high-quality cocoa and chocolate products. Barry Callebaut operates some 30 production facilities in 16 countries and employs approximately 7,000 people. The company is organized into four strategic business units: Cocoa, Sourcing & Risk Management, Food Manufacturers, Gourmet & Specialties and Consumer Products.

The company’s customers range from industrial processors, such as the world famous branded consumer goods manufacturers who produce chocolate, confectionery, biscuits, dairy products, ice cream and breakfast cereals incorporating Barry Callebaut’s products, to artisanal users, including hotels, gastronomy, chocolate makers, pastry chefs and bakers, to partners in the food retailing industry for whom the Barry Callebaut Group produces branded, customer label and other consumer products. Barry Callebaut also provides a comprehensive range of services in the fields of product development, processing, training and marketing.

The holding company, Barry Callebaut AG, has been listed on the SWX Swiss Exchange since June 1998 (ticker symbol BARN). The fully paid-up share capital amounts to CHF 517 million, divided into registered shares with a nominal value of CHF 100 each.

www.barry-callebaut.com