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UCB launches an offer of up to €350 million convertible bonds


UCB SA announces today that it has launched an offering (the “Offering”) of up to €350 million senior unsecured convertible bonds, due 2015 (the “Bonds”).

The Bonds will be placed with institutional investors through an accelerated book building placement conducted by Barclays Capital, BNP Paribas Fortis and KBC Financial Products, acting as Joint Bookrunners.

The Bonds will be issued and redeemed at 100 per cent of their principal amount and are expected to have a coupon of between 4.50 per cent and 5.25 per cent per annum, payable semi-annually in arrear , and unless previously converted, repurchased or redeemed will mature on the 6th anniversary of their issue, in 2015. The initial conversion price is expected to be set at a premium of between 30 per cent and 35 per cent above a reference share price equal to the volume-weighted average price of the Company’s ordinary shares on Euronext Brussels from launch to pricing.  The final terms of the Bonds are expected to be announced through a separate press release, expected to be later today.

UCB has granted the Joint Bookrunners an over-allotment option of up to EUR 50 million of Bonds which, if exercised in full by the Joint Bookrunners, would increase the aggregate principal amount of the Offering to €400 million. This option can be exercised, in part or in full, at any time up to and including October 22, 2009.

The net proceeds from the issue of the Bonds will be used by UCB for general corporate purposes and form part of a funding diversification policy being implemented by the Board.

NOTE: The current news release constitutes regulated information as defined in the Belgian Royal Decree of November 14, 2007, regarding the obligations of issuers of financial instruments that have been admitted to trading on a regulated market

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