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Oriflame completes a $195 million and €25m issue of private placement notes

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Oriflame Cosmetics S. A. is pleased to announce the successful completion of a $195m and €25m issue of private placement notes. The transaction was very well received by international investors and was more than two times oversubscribed. The notes mature in 2018, 2021 and 2023.

"With a successful completion of a $165m issue of private placement notes in 2010, Oriflame has now taken a further important step in our strategy to diversify Oriflame's sources of debt financing. The additional private placement notes of $195 million and €25m complement our bank funding and create a long term funding profile. With this transaction, Oriflame has secured its financing for the foreseeable future.” comments Gabriel Bennet, Chief Financial Officer at Oriflame Cosmetics.

HSBC Securities (USA) Inc acted as Sole Bookrunner and Lead Placement Agent in the transaction process, where Nordea and SEB had the role as co-Agents. HSBC Securities (USA) Inc coordinated the hedging process to swap the financing into EUR, where the core relationship banks participated.

Earlier completed financing

  • In April 2010, Oriflame Cosmetics S.A. completed a $165 million issue of private placement notes maturing in 2015, 2017 and 2020
  • In May 2011, Oriflame Cosmetics S.A. signed two Revolving Credit Facilities, amounting to €430m in total with its core relationship banks. A €330m five-year Revolving Facility was joined by HSBC Bank plc, ING, Nordea, RB International and SEB. A €100m one-year Revolving Facility was joined by Nordea and SEB.

As a result of the recent successful issue of private placement notes, the €100m one-year Revolving Facility will be cancelled.

For additional information, please contact:
Gabriel Bennet, CFO, Oriflame                                                          +41 79 826 37 13
Joakim Banestig, Senior Director IR, Oriflame                                     +41 79 103 35 21

Oriflame Cosmetics is an international beauty company selling direct. The company began operations in 1967 in Sweden and has today a presence in over 60 countries worldwide. Oriflame offers a wide portfolio of Swedish, natural, innovative, quality beauty products at affordable prices. To-date Oriflame has over 3.5 million consultants worldwide with annual sales of €1.5 billion. Oriflame offers the leading business opportunity for people who want to start making money the same day they join and then grow into a leadership role and fulfil their personal dreams and ambitions. Oriflame is listed on NASDAQ OMX Stockholm since 2004.

 

 

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