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Commentary & Deal Flow

NEW ISSUE: Groupe Bruxelles Lambert €500m (WNG) 8yr Sr Unsec; MS+120a

IGC European Market: Deal Flow - General

Issuer

Term

Maturity

Size

Ranking

Type

ISIN

IPT

Groupe Bruxelles Lambert SA/NV

8yr

01-Sep-34

€500m (WNG)

Sr Unsec

Fixed

BE0390373455

MS+120a


IPTs: 8yr: MS+120a


  • Issuer: Groupe Bruxelles Lambert SA/NV
  • Ticker: GBLB BB
  • Country: BE
  • Issuer LEI: 549300KV0ZEHT2KVU152
  • Issuer Rating: A1 (Moody's)
  • Expected Issue Rating: A1 (Moody's)
  • Status: Senior, unsecured
  • Form: Reg S (cat1), Belgian dematerialised
  • Settlement: 01-Sep-26 (T+5)
  • Currency / Size: €500m (WNG)
  • Maturity: 01-Sep-34 (8yr)
  • Coupon: Fixed, Annual, Act/Act ICMA, following, unadjusted
  • ISIN: BE0390373455
  • Documentation: Standalone Information Memorandum, with the Preliminary Information Memorandum dated 24-Aug-26
  • Governing Law: Belgian law
  • Early Redemption: 3m Par Call / Tax Call / Clean-up Call (80%) / MWC / Investor Put upon the occurrence of a Major Restructuring
  • Denomination: €100k+100k
  • Listing: Euronext Growth Brussels (unregulated market)
  • Selling Restrictions: As per the standalone Preliminary Information Memorandum dated 24-Aug-26. Prohibition of sales to EEA Retail Investors; Prohibition of sales to UK Retail Investors; Prohibition of sales to consumers in Belgium; specific restrictions in the UK, US, Italy, Hong Kong, Singapore and Switzerland. US Reg S (cat1). The Bonds will be admitted to X accounts only, ie investors holding through Belgian N accounts will not be able to buy the Bonds.
  • UoP: General corporate purposes, including the refinancing of existing indebtedness
  • Clearing System: NBB-SSS (X-accounts only) with bridges to Euroclear/Clearstream
  • Target Market: MiFID II and UK MiFIR professionals & ECPs-only. Manufacturer target market (MiFID II product governance and UK MiFIR product governance rules) is eligible counterparties and professional clients only (all distribution channels). No key information document (KID) or product summary required by the FCA Product Disclosure Sourcebook, as applicable, has been prepared as the Bonds are not available to retail in the EEA or the United Kingdom.
  • Joint Global Coordinators: BNP Paribas (B&D), ING, Société Générale
  • Joint Active Bookrunners: Barclays, Belfius, BNP Paribas, CIC CIB, CACIB, ING, KBC, Natixis and Société Générale
  • Documentation: The final Information Memorandum, when published, will be available through the website of the Issuer (https://www.gbl.com/en/net-financial-position)
  • Marketing: NetRoadshow+Voice-over: FINAL LINK: www.netroadshow.com/nrs/home/#!/?show=943a4a8a (Recommended) OR Visit www.netroadshow.com and enter the entry code: Golden26 (not case-sensitive)
  • Schedule: Books open, Today's business