News from Our Members

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Bekaert announces results of the public exchange offer on the bonds maturing on 16 April 2014

According to a press release by NV Bekaert SA, the latter company launched on 19 September 2013 an unconditional public exchange offer in Belgium and Luxembourg for all 150000 fixed rate bonds in an aggregate amount of EUR 150 000 000 maturing 16 April 2014 and having a gross coupon of 6.75% (ISIN Code BE0002167337). By this voluntary exchange transaction, NV Bekaert SA wished to extend the maturity of part of its total existing bond financing. The holders of the existing bonds had the opportunity to exchange their existing bonds for 7 -year bonds with a gross coupon of 4.75%to be issued on 17 October 2013 and maturing on 17 October 2020 (ISIN Code BE0002206721), in an exchange ratio of 1 to 1. At the end of the exchange period on 7 October 2013, 45 614 existing bonds were tendered into the exchange offer, representing an aggregate nominal amount of EUR 45 614 000.

The 45 614 new bonds, representing an aggregate nominal amount of EUR 45 614 000, were issued on 17 October 2013. The new bonds are listed on the regulated market of NYSE Euronext Brussels.

Read the entire press release on www.bekaert.com

Deloitte Luxembourg announces revenue growth of 19%

With gross revenues of EUR 213.1 million, representing a year on year growth of 19%, Deloitte Luxembourg recorded strong financial results for the financial year ending 31 May 2013. These results were reflected across the firm’s three main functions - audit, tax and advisory & consulting - and come after two successive years of revenue growth. In 2011 and 2012, the firm posted a revenue increase of 8% and 10% respectively. Over recent years, Deloitte’s strategic objectives around clients, talent, quality and innovation have been instrumental in this achievement.

“The strong growth of our revenues observed again in the last financial year reinforces our confidence in the business model we have consistently been deploying over the years. It bears testimony to the relentless focus we place on quality service delivery and closeness with the true preoccupations of our clients. Our capacity to accompany our clients as they navigate challenging times and to deliver a range of services uniquely tailored to their evolving needs, are distinctive strengths in the current market environment”, says Yves Francis, Managing Partner of Deloitte Luxembourg.

Read the full press release on www.deloitte.com

Etihad Airways continues to achieve record growth in the third quarter of 2013

Etihad Airways continued to achieve record growth in the third quarter of 2013, with revenue from passenger services exceeding USD 1 billion for the first time and passenger numbers passing three million.

The President and Chief Executive Officer of Etihad Airways, James Hogan, said the Q3 growth occurred in a climate of increasing capacity and ongoing price competition. It also compensated for reduced travel during the Holy Month of Ramadan, which fell across the traditional peak travel months of July and August.

Read the full press release on www.etihad.com

Qatar Airways flies Dreamliner between Doha and Brussels

Qatar Airways will start using a Boeing 787-8 'Dreamliner' starting the 1st of December for the daily connection between Doha and Brussels. It is the first time that an airline company will use the new Boeing airplane on a regular basis for flying to the Belgian airport. Until now, Qatar Airways flew its passengers from and to Doha and Brussels with an Airbus A330.

The Qatar Airways stable is already home to eight Dreamliners. The airplane offers room to 22 business and 232 economy seats.