Ontex Group NV Announces Launch of €250 Million Senior Secured Notes Offering

AALST-EREMBODEGEM, Belgium--()--Regulatory News:

Ontex Group NV (Euronext Brussels: ONTEX; “Ontex”), a leading manufacturer of branded and retailer brand hygienic disposable products across Europe, the Middle East and Africa, announces the launch of an offering of €250 million aggregate principal amount of its euro-denominated fixed rate notes due 2021 (the “Notes”), in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended.

The Notes will be guaranteed by certain material operating subsidiaries of Ontex on a senior basis. The Notes will be secured by a first-priority security interest over shares of certain of the guarantors and over certain receivables of Ontex and certain of the guarantors. The collateral securing the Notes will be shared by a senior facilities agreement, comprised of a euro-denominated senior term loan facility in an amount of €380 million and a euro-denominated senior revolving facility in an amount of up to €100 million, and certain hedging obligations.

The senior term loan facility and the proceeds from the sale of the Notes will be used to redeem in full Ontex’s existing 7.50% senior secured notes due 2018 in an aggregate principal amount of €395,000,000 and 9.00% senior unsecured notes due 2019 in an aggregate principal amount of €235,000,000, pay prepayment premiums and to pay fees and expenses.

Additional information concerning recent developments in Ontex’s business will be set out in a trading update to be posted on Ontex’s website.

About Ontex

Ontex is a leading manufacturer of branded and retailer brand hygienic disposable products across Europe, the Middle East and Africa. The Company primarily sells its products to retailers, helping them to establish or enhance their own brands. While historically Western Europe has been the Company’s largest geographic market in terms of sales (68% of sales in 2013), the Company also has a growing presence in emerging markets where it offers both retailer brands and its own brands, with the mix varying by product category and geography. The Company believes that it operates a strong and diversified business across multiple geographies and serves a blue chip customer base with high quality products in core, resilient and non-discretionary categories.

Important Regulatory Notice

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The Notes mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”). The Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. There will be no public offer of the Notes in the United States.

This press release may include projections and other “forward-looking” statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of Ontex about further events and/or financial performance. No assurances can be given that such events or performance will occur as projected, and actual results may differ materially from these projections.

This announcement is being distributed only to, and is directed at (a) persons who have professional experience in matters relating to investments who fall within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (b) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order (all such persons together being referred to as “relevant persons”). The investments to which this announcement relates are available only to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such investments will be available only to or will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Persons distributing this announcement must satisfy themselves that it is lawful to do so.

Neither the content of Ontex’s website nor any website accessible by hyperlinks on Ontex’s website is incorporated in, or forms part of, this announcement. The distribution of this announcement into jurisdictions other than the United Kingdom may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Contacts

Ontex Group NV
For further information, please contact:
Investors
Philip Ludwig
+32 53 333 730
Philip.Ludwig@ontexglobal.com
or
Severine Camp and Hannah Jethwani
+(44) 20 7614 2900
Ontex@fairvuepartners.com

Contacts

Ontex Group NV
For further information, please contact:
Investors
Philip Ludwig
+32 53 333 730
Philip.Ludwig@ontexglobal.com
or
Severine Camp and Hannah Jethwani
+(44) 20 7614 2900
Ontex@fairvuepartners.com