New York, July 5 - Assystem said the underwriters of its offering of convertibles in the Ornane structure exercised the 12 million over-allotment option in full, raising the size of the transaction to 92 million.
Assystem originally priced 80 million of the securities on June 28 with a 4% coupon and a conversion price of 22.00, equivalent to a 27.43% premium.
The offering was priced within talk for a 25% to 30% conversion premium and a 3.625% to 4.375% coupon.
Cr้dit Agricole Corporate and Investment Bank, Natixis and Oddo Corporate Finance were the bookrunners.
Assystem also obtained 240 million of bank facilities as part of the financing.
Proceeds will be used to refinance, develop operations and increase financial flexibility.
Assystem is an engineering and consulting group based in Paris.
| Issuer: | Asservice
|
| Issue: | Convertible bonds in the Ornane structure
|
| Amount: | 91,999,996 (includes 80,000,008 plus exercise of 11,999,988 greenshoe)
|
| Maturity: | Jan. 1, 2017
|
| Coupon: | 4% (short first coupon)
|
| Price: | Par of 22.00
|
| Conversion ratio: | 1
|
| Conversion premium: | 27.43%
|
| Call: | From Jan. 15, 2015 subject to 130% hurdle
|
| Contingent conversion: | Yes, 130% hurdle, freely convertible starting Jan. 1, 2015
|
| Bookrunners: | Cr้dit Agricole Corporate and Investment Bank, Natixis, Oddo Corporate Finance
|
| Pricing date: | June 28
|
| Settlement: | July 6
|
| Stock symbol: | NYSE Euronext: ASY
|
| Stock price: | 17.13 at close on June 28
|
| Market capitalization: | 359.8 million
|
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