Bekaert in €150 Million Public Bond Exchange Offer

Cleary Gottlieb is representing NV Bekaert SA in an unconditional public exchange offer in Belgium and Luxembourg for its outstanding 6.75% fixed rate bonds due April 2014, with an aggregate principal amount of €150 million, in exchange for a corresponding number of to be issued 4.75% fixed rate bonds due October 2020. The existing 6.75% bonds have originally been offered to retail investors in Belgium and Luxembourg.

The public exchange offer is governed by Belgian takeover legislation and the Belgian and Luxembourg laws implementing the EU Prospectus Directive. The prospectus has been approved by the Belgian Financial Services and Markets Authority and “passported” to Luxembourg.

The new 4.75% bonds will be listed on the regulated market of NYSE Euronext Brussels.

KBC Bank NV acts as global coordinator. BNP Paribas Fortis SA/NV, ING Bank N.V. Belgian Branch and KBC Bank NV act as dealer managers.

The acceptance period for the public exchange offer starts on September 23, 2013 and will end on October 7, 2013. Settlement is expected to occur on October 17, 2013.

Bekaert, which is listed on NYSE Euronext Brussels, is one of Belgium’s largest industrial groups and a world market and technology leader in steel wire transformation and coatings. Cleary Gottlieb has represented Bekaert over the years in a series of M&A and other transactions, including its €100 million fixed rate unsecured bond issuance (due in 2018) in December 2010 and its €400 million dual tranche fixed rate unsecured bond issuance (due in, respectively, 2016 and 2019) in December 2011.