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  4. Renewi Launches its Belgian Retail Bond Renewi Launches its Belgian Retail Bond

Closed On The First Day - Renewi Successfully Launched its Belgian Retail Bond

03 July 2019

 

Renewi plc, the international waste-to-product business, has successfully launched - and closed on its first day - a Green Bond Issue (the “Notes”) to retail investors in Belgium of €75m at a gross coupon of 3% for a period of five years to July 2024.

This issuance completes our conversion to become completely Green funded for our long-term borrowings, including all Bonds and the European Private Placement (“EUPP”), Term Loan and Revolving Credit Facility. The new issuance, combined with the €25m Green EUPP issued last December, and the proceeds from our disposals, will ensure that Renewi has significant long-term headroom on its borrowing facilities.

This is Renewi’s first Green Bond issuance since the merger of Shanks and Van Gansewinkel created Renewi plc, the largest recycling company with a nationwide Belgian footprint and builds upon a long track record of successful Shanks Group Belgian Retail Bond issuances in 2010, 2013 and 2015.

The net proceeds of the Notes will be fully deployed in support of Green investments in waste recycling, waste treatment, waste collection, and production of energy from waste. This is in accordance with our Green Finance Framework and to partially refinance existing debt including the 2013 €100m Bond which matures on 30 July. The Green Finance Framework describes the use of proceeds, project selection, management of proceeds and reporting. It also aligns with the four pillars of the Green Bond Principles 2017 and Green Loan Principles 2018, highlighting a best practice approach in key areas.

Toby Woolrych, Chief Financial Officer at Renewi, said:
"We are pleased to successfully close the subscription of our first Green Bond in Belgium since the creation of Renewi plc. The issue will complete our conversion to Green financing, strengthen our funding position and support our ongoing investments in waste-to-product across the Benelux."

About Renewi

Renewi is a leading waste to product company that gives new life to used materials every day. We have more than 7,000 employees working at 189 operating sites across Europe and North America. Our extensive operational network means we are always close to our customers.

For Renewi, waste is a state of mind, and an opportunity. Our many years of knowledge and experience, combined with a broad range of services, allow us to offer sustainable, practical recycling solutions. We use innovation and the latest technology to turn waste into useful materials such as paper, metal, plastic, glass, wood, building materials, compost and energy. In other words, we turn today’s waste into tomorrow’s raw materials.

The result of our work is less waste and contamination, a smarter use of scarce raw materials, and a reduction in carbon emissions. This means that we are contributing towards a cleaner, circular world in which we “waste no more”.

Renewi was created in 2017, following the merger of Shanks Group plc with Van Gansewinkel Groep BV, and is listed on the London Stock Exchange. Visit our website for more information: www.renewiplc.com. Images are available at www.renewiplc.com/imagelibrary.

About Renewi Belgium

Renewi has a complete national coverage in Belgium with approximately 30% market share being the largest waste collection and processing operation with a #1 position in most waste segments. Our c2000 Belgian employees process c3 million tonnes of waste every year across our 40+ operating sites.

Statement

Terms used herein shall have the meaning given to them in the Prospectus dated 2 July 2019 (the "Prospectus") relating to the Notes. This announcement constitutes the Sizing Announcement as referred to in the Prospectus and must be read in conjunction with the Prospectus.  The Offer Period relating to the Notes closed at 1730 CET 5 July 2019. Accordingly, Notes can no longer be subscribed for pursuant to the offer and acceptances can no longer be withdrawn.
 IMPORTANT INFORMATION
This announcement is an advertisement and is not a prospectus for the purposes of EU Directive 003/71/EC, as amended, and/or Part VI of the Financial Services and Markets Act 2000 (the "FSMA"). A prospectus dated 2 July 2018 (the "Prospectus") has been prepared and made available to the public as required by Part VI of the FSMA. Investors should not subscribe for any Notes referred to in this announcement except on the basis of information in the Prospectus. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of the Prospectus and this announcement which have been published by the Issuer on the Regulatory News Service operated by the London Stock Exchange ("RNS").
THIS ANNOUNCEMENT IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY ANY OF THE NOTES REFERRED TO HEREIN AND SHALL NOT CONSTITUTE AN OFFER, SOLICITATION NOR SALE IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE IS UNLAWFUL, INCLUDING BUT NOT LIMITED TO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

THE NOTES REFERRED TO IN THIS DOCUMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE US SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) OR UNDER THE SECURITIES LEGISLATION OF ANY STATE OF THE UNITED STATES, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OTHER THAN PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE ISSUER DOES NOT INTEND TO MAKE A PUBLIC OFFER OF SECURITIES IN THE UNITED STATES OR TO REGISTER ANY SECURITIES UNDER THE SECURITIES ACT.

Disclaimer – Intended Addressees

Please note that the information contained in the Prospectus may be addressed to and/or targeted at persons who are resident of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Prospectus is not addressed.

Prior to relying on the information contained in the Prospectus you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above requirement.

For further information:

FTI Consulting Renewi plc

+44 20 3727 1340
Richard Mountain
Susanne Yule

www.renewiplc.com