Barry Callebaut takes another important milestone in strengthening the financial and liquidity profile of the company hereby announcing:

• the launch of an offering of Senior Fixed Rate Notes
• the reduction and amendment of its long term EUR 850 million Revolving Credit Facility targeting a light covenant package and maturity extension up to 5 years  

Barry Callebaut has mandated Credit Suisse, ING, The Royal Bank of Scotland and Société Générale as bookrunners and joint lead managers for a proposed Reg S offering of Euro-denominated Senior Fixed Rate Notes. The Notes will be guaranteed by certain material subsidiaries of the Company. The Notes will be fully pari passu with existing revolving credit facility and existing notes.

The transaction is expected to be launched, subject to market conditions, following an investor roadshow in Europe (London, Zürich, Paris and Frankfurt) commencing on June 6th 2011. It is expected that the Notes will be listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange.  

The proceeds of the offering are for general corporate purposes, partly repaying the drawn amount under Barry Callebaut’s senior credit revolving facility.

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Barry Callebaut:
With annual sales of about CHF 5.2 billion / EUR 3.6 billion / USD 4.9 billion for fiscal year 2009/10, Zurich-based Barry Callebaut is the world’s leading manufacturer of high-quality cocoa and chocolate – from the cocoa bean to the finest finished product. Barry Callebaut is present in 26 countries, operates more than 40 production facilities and employs about 7,500 people. The company serves the entire food industry, from food manufacturers to professional users of chocolate (such as chocolatiers, pastry chefs or bakers), to global retailers. Barry Callebaut is the global leader in cocoa and chocolate innovations and provides a comprehensive range of services in the fields of product development, processing, training and marketing. The company is actively engaged in initiatives and projects that contribute to a more sustainable cocoa supply chain.