DGAP-News: Galapagos S.A.: Notice Senior Secured Floating Rate Notes due 2021

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EQS-News: Galapagos S.A. / Key word(s): Miscellaneous
Galapagos S.A.: Notice Senior Secured Floating Rate Notes due 2021

17.07.2019 / 11:00
The issuer is solely responsible for the content of this announcement.


NOTICE

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

Senior Secured Floating Rate Notes due 2021

ISIN Code: XS1071411547 / XS1072185488

5.375% Senior Secured Fixed Rate Notes due 2021
ISIN Code: XS1071419524 / XS1072194803


Fareham - 10 a.m., 17 July 2019

As previously announced, Galapagos S.A. (the "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 "Interest Payment"). Because the Issuer has not made the Interest Payment during the grace period under the indenture governing the Senior Secured 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 parent, Galapagos Holding S.A. (the "SUN 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 "SUN Interest Payment"). The Issuer and certain of the Issuer's restricted subsidiaries guarantee the Senior Notes. Because the SUN Issuer did not make the SUN Interest Payment during the grace period under the indenture governing the Senior Notes (as supplemented or amended from time to time), an Event of Default has occurred under the Indenture.

As previously announced, accrued but unpaid interest on the Senior Secured Notes will be paid in full on consummation of the Transaction. The Consenting Creditors have given certain waivers and forbearances in connection with the implementation of the Transaction (including in connection with the non-payment of the Interest Payment) and have agreed not to take any enforcement action (subject to certain customary exceptions) other than as contemplated by the Alternative Transaction. All capitalised words used but not defined herein shall have the meanings given to them in the Issuer's announcement published on 7 June 2019, the Issuer's announcement published on 17 June 2019 or the Indenture, as applicable.

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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 S.A. for the purposes of Article 7 under Regulation (EU) 596/2014.

Galapagos 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 186 314.

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17.07.2019 Dissemination of Corporate News, transmitted by EQS - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Corporate News and Press Releases.
Archive at www.dgap.de/international


Language: English
Company: Galapagos S.A.
20 Davis Way, Newgate Lane
PO14 1AR Fareham, Hampshire
United Kingdom
Phone: +44 1329 822200
E-mail: [email protected]
ISIN: XS1071411547, XS1072185488, XS1071419524, XS1072194803
WKN: A1ZJ4P
Listed: Foreign Exchange(s) Luxembourg Stock Exchange
EQS News ID: 842467

 
End of News EQS News Service

842467  17.07.2019 

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