Veolia to settle tenders for $94.11 million 6% notes due 2018 in offer

By Susanna Moon

Chicago, June 7 - Veolia Environnement holders tendered $94,106,000 of its outstanding $546.83 million of 6% notes due 2018.

The offer ended at 5 p.m. ET on June 6, with settlement set for June 12. The offer began on May 29.

The company will pay $1,181.10 per $1,000 principal amount of notes plus accrued interest up to but excluding the settlement date

Pricing was set at noon ET on June 6 using the bid-side price of the 0.625% Treasury due April 2018 plus a fixed spread of 115 basis points. The reference yield is 0.989%, and the tender offer yield is 2.139%.

The company previously said the purpose of the offer was to optimize the use of its cash and cash equivalents realized from recent divestitures and to reduce its dollar debt.

The offer was not conditioned on the tender of a minimum principal amount of notes, and the company is not soliciting consents from noteholders in connection with the offer.

Citigroup Global Markets Ltd. (800 558-3745, 212 723-6106 or 44 0 20 7986 8969) was the dealer manager. Global Bondholder Services Corp. (866 924-2200) was the information and tender agent.

Veolia is an environmental services provider based in Paris.

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