Südzucker International Finance B.V. expects based on Südzucker AG 2018/19 consolidated annual report not to record the existence of a Cash Flow-Event and no cancellation of remuneration payment
Annual group accounts as of 28 February 2019 closed by the Südzucker executive board on 24 April 2019, reports group revenues of EUR 6.75 billion and cash flow of EUR 377 million (5.6 percent of group revenues).
Südzucker International Finance B.V., Oud-Beijerland, Netherlands, announced today in regard to the 2005 issued EUR 700,000,000 (ISIN XS0222524372) undated subordinated fixed to floating rate bonds guaranteed on a subordinated basis, by Südzucker AG (former name: Südzucker Aktiengesellschaft Mannheim/Ochsenfurt) the following:
Against the background of closed annual group accounts, the assessment of Südzucker International Finance B.V. of 27 March 2019 based on unaudited, preliminary figures for financial year 2018/19 about the existence of a Cash Flow-Event (§ 5(4) of the Conditions of Issue applicable to the bonds) has not been confirmed. With corresponding publication of the annual report of Südzucker AG on 16 May 2019, Südzucker International Finance B.V. – in accordance to § 5(4) of the Conditions of Issue applicable to the bonds – will pay the remuneration amount on the remuneration payment dates end of June, September, December 2019 as well as end of March 2020.
Audit committee will assess the annual consolidated financial statement on 7 May 2019, examination and consent by the supervisory board will take place on 15 May 2019.