Touax: Success of the partial buyback of the Undated Deeply Subordinated Bond
November 27 2020 - 11:45AM
Touax: Success of the partial buyback of the Undated Deeply
Subordinated Bond
PRESS
RELEASE
Paris, November 27, 2020 – 5.45 p.m.
YOUR OPERATIONAL LEASING SOLUTION
FOR SUSTAINABLE TRANSPORTATION
Success of the partial buyback of the
Undated Deeply Subordinated Bond
Touax SCA announces today that it has bought
back and canceled part of the Undated Deeply Subordinated Bond
issued in August 2013, November 2013 and May 2014, for a nominal
amount of 24.2 million euros. The outstanding amount of the bonds
stands at 26.6 million euros.
This operation will enable to optimize the
capital structure of the Group and to lower the related costs.
Fabrice and Raphaël Walewski,
managing partners of Touax Group commented: “The strategic
refocusing initiated since 2018 around the long-term rental
business of environmentally-friendly transport equipment has
allowed a return to growth and profit over the first half of
2020.
The capital increase of Touax Rail for 81.9
million euros achieved at the end of September 2020 significantly
strengthened the capital of the Rail division and the group and
thus accelerates its development.
Touax Group’s shareholder value creation
strategy continues with initiatives to lower the cost of its debt,
of which this operation is part.
We would like to thank the investors who have
supported us over the past 6 years on this instrument which has
enabled them to generate an average annual return of 7.95%.”
Touax was advised by the firm White & Case
(legal advisor) and the company Octo Finances (Dealer Manager),
SGSS and Lucid were respectively tender agent and information
agent.
UPCOMING EVENTS
- February 26, 2021: 2020 Revenue from activities
- March 24, 2021: 2020 annual results – SFAF presentation
- March 26, 2021: Conference call to present the annual
results
TOUAX Group leases out
tangible assets (freight railcars, river barges and containers) on
a daily basis worldwide, both on its own account and for investors.
With nearly €1.1bn in assets under management, TOUAX is one of the
leading European players in the leasing of such equipment.
TOUAX is listed on the
EURONEXT stock market in Paris - Euronext Paris Compartment C (ISIN
code: FR0000033003) - and is listed on the CAC® Small, CAC® Mid
& Small and EnterNext©PEA-PME 150 indices.
For further
information please visit: www.touax.com
Contacts:TOUAX
ACTIFINFabrice & Raphaël
WALEWSKI
Ghislaine
Gasparettotouax@touax.com
ggasparetto@actifin.frwww.touax.com
Tel: +33 1 56 88 11 11Tel:
+33 1 46 96 18 00
- EN TOUAX PR TSSDI 27 11 2020
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