(News Bulletin 247) – Solvay announced on Tuesday that it intends to exercise its full early redemption option on its 2029 bonds, an issue whose amount reaches 600 million euros.
As a result, the chemical group has decided to end the request for consent regarding these obligations, which it had formalized at the beginning of August.
Solvay explains that it is aware of the fact that votes cast in favor of the consent, representing less than 3% of the total nominal amount of the 2029 bonds, may not have been validly exercised.
At this stage, the company is unable to confirm that the 75% majority required for the request for consent relating to the 2029 bonds has been reached.
An internal investigation has also been initiated into the circumstances surrounding an assignment of 2029 bonds between third parties.
In this context, the meeting of 2029 bondholders, scheduled for September 5 at Solvay’s headquarters, will not take place.
The chemist, on the other hand, says that he has obtained consent on the 2025 and 2027 bonds and has succeeded in his contractual offer to buy out the 2024 hybrid perpetual bonds.
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