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Groupe Bruxelles Lambert Announces Launch of Exchangeable Bond for GDF SUEZ Shares


Thursday, 24 Jan 2013 02:02am EST 

Groupe Bruxelles Lambert (GBL) announced that the launch of an offering by its 100% owned subsidiary GBL Verwaltung S.A. of approximately EUR 1 billion of bonds (the Bonds) exchangeable into existing ordinary shares of GDF SUEZ S.A. (GDF SUEZ). The offering of the Bonds relates to almost half the shares held by GBL – that is approximately 54 million GDF SUEZ shares representing 2.3% of its share capital and voting rights. The Bonds will have a maturity of 4 years and will bear interest at a rate of between 0.375% and 1.000% per annum. The Bonds will be redeemed at par on February 7, 2017 subject to the option exercisable by GBL to deliver GDF SUEZ shares to bondholders and pay in cash, if applicable, the balance between the value of the shares to be delivered and the nominal value of the Bonds. 

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