Safran launches ~€730M convertible bonds (OCEANEs)
=> offering due 1-Apr-28 and concurrent repurchase offer with respect to its outstanding OCEANEs due 21-Jun-23 (€123.56)
=> nominal amount of €575M to qualified investors only as defined in Article 2(e) of Regulation (EU) 2017/1129 of the European Parliament and the Council of 14-Jun-17, which may be increased up to approximately €730M if the increase option is exercised in full.
=> used to refinance part or all of the outstanding OCEANEs due 21-Jun-23
details :
- The Bonds will not bear interest and will be issued at a price between 103.5% to 106.5% of par, corresponding to an annual gross yield to maturity of between -0.92% and -0.50%.
- The nominal unit value of the Bonds will be set at a premium of between 45% and 50% above the reference price of Safran's shares1 on the regulated market of Euronext Paris.
- The final terms and conditions of the Bonds are expected to be determined today and settlement is expected to take place on 14-Jun-21.