DGAP-News: Galapagos Holding S.A: Notice 7.000% Senior Notes due 2022

NOTICE

Galapagos Holding S.A.
Effective Place of Management:
20 Davis Way
Newgate Lane
Fareham Hampshire
PO14 1AR United Kingdom

7.000% Senior Notes due 2022
ISIN Code: XS1071420027 / XS1072200204

Fareham - 10 a.m., 17 July 2019

As previously announced, Galapagos Holding S.A. (the "Issuer") did not make the interest payment with respect to its Senior Notes due on 15 June 2019 (or the next succeeding Business Day) (the "Interest Payment"). Because the Issuer has not made the Interest Payment during the grace period under the indenture governing the Senior Notes (as supplemented or amended from time to time, the "Indenture"), an Event of Default has occurred under the Indenture.

In addition, the Issuer's direct subsidiary, Galapagos S.A. (the "SSN Issuer"), did not make the interest payment with respect to its Senior Secured Notes due on 15 June 2019 (or the next succeeding Business Day) (the "SSN Interest Payment"). Because the SSN Issuer has not made the SSN Interest Payment during the grace period under the indenture governing the Senior Secured Notes (as supplemented or amended from time to time), an Event of Default has occurred under the Indenture.

Under the terms of the Intercreditor Agreement, the holders of the Senior Notes will not be entitled to take any enforcement action against the SSN Issuer or its subsidiaries until at least 179 days have elapsed following the occurrence of an Event of Default and due notice has been given.

The Issuer will continue to seek to facilitate negotiations and discussions between relevant stakeholders with respect to a consensual balance-sheet restructuring transaction with the holders of the Senior Notes which would involve, among other things, the Interest Payment being made at a subsequent date. All capitalised words used but not defined herein shall have the meanings given to them in the Indenture.

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For further information, please contact:

Galapagos Investor Relations
[email protected]

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This announcement contains inside information of Galapagos Holding S.A. for the purposes of Article 7 under Regulation (EU) 596/2014.

Galapagos Holding S.A. is a public limited liability company (Société Anonyme) incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 2C Rue Albert Borschette, L-1246 Luxembourg, and being registered with the Luxembourg trade and companies register under number B 186 312.

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