Sofina in €1.145 Billion Financing

Cleary Gottlieb represented Sofina in its €600 million bond offering.

The bond offering consisted of €600 million senior unsecured bonds maturing in 2033 and was successfully completed on November 5, 2025.

The bonds will be listed on Euronext Growth Brussels. The net proceeds from the issue of the bonds will be used to finance Sofina’s expanded capital deployment capacity and other general corporate purposes.

Following the €545 million rights offering completed by Sofina on October 7, 2025, this bond issuance marks another step in Sofina’s strategy to scale up its investment platform. This transaction will optimize Sofina’s overall cost of capital, enhance its financial flexibility to capture attractive opportunities across market cycles, while maintaining a conservative leverage profile. It supports Sofina’s ambition to scale its diversified investment platform and continue investing across its sectors of focus.

The offering was led by BNP PARIBAS and Morgan Stanley as joint global coordinators, with Belfius Bank SA/NV, Crédit Industriel et Commercial S.A., ING Bank N.V., KBC Bank NV, and Société Générale acting as joint lead managers.

Sofina is a Belgian family-backed, global investment company listed on Euronext Brussels with a net asset value of €9.8 billion. It leverages distinct investment styles that together cover the full growth stage of companies, from inception to maturity. Its portfolio is split approximately equally between direct, minority investments in private and listed companies, and investments in mainly venture and growth capital funds. Deploying its capital across North America, Europe, and Asia in five sectors of focus (Consumer and retail, Digital transformation, Education, Healthcare and life sciences, and Sustainable supply chains), Sofina has the capability to invest and support a company at each stage in its growth cycle, from early stage through growth stage to expansion stage.