Wolters Kluwer, a market-leading global information services company focused on professionals, today announced its intention to issue a benchmark Eurobond in the debt capital markets.
Conditional on the successful completion of this Eurobond, the company intends to exercise a call option on its €225 million perpetual cumulative subordinated bonds in 2013.
Wolters Kluwer has mandated ABN Amro, Barclays, Rabobank International, and The Royal Bank of Scotland to arrange a series of European fixed income investor meetings from March 4 to March 6, 2013. A senior, unsecured capital markets transaction of benchmark size may follow, subject to market conditions.
The net proceeds of the bond will be used by Wolters Kluwer to refinance part of its 2014 Eurobond maturity and the call of the outstanding perpetual bonds in 2013. “The current environment with low underlying interest rates also provides an opportunity for attractive financing. On completion, the refinancing exercise will lower our effective interest rate starting 2014.” says Boudewijn Beerkens, CFO and Member of Executive Board.