Alcatel-Lucent tenders for 6 3/8% notes, 5% convertibles and 8½% notes

By Susanna Moon

Chicago, April 30 - Alcatel-Lucent said it began tender offers for any and all of its €462,013,000 6 3/8% notes due 2014, up to €300 million of its €999,999,999 5% convertible bonds due 2015 and for some of its €500 million 8½% senior notes due 2016.

Alcatel-Lucent will buy an amount of 8½% notes equal to €750 million less the total amount of 6 3/8% notes and 5% convertibles accepted for purchase in the offers, according to a press release.

The company will pay 104.5% of par plus accrued interest for the 6 3/8% notes.

Pricing for the other two series of notes will be set under a modified Dutch auction with a minimum price of €3.29 per par value €3.23 for the 5% convertibles and 106% of par for the 8½% notes.

The purchase price for the 5% convertibles will include about €0.062 of accrued interest.

The company said the purpose of the offers is to proactively manage upcoming redemptions of its debt.

The offers will end at 11 a.m. ET on May 15, with settlement set for May 21.

Holders must tender a minimum nominal amount of notes of at least €1,000 for the 6 3/8% notes, €3.23 for the 5% convertibles and €50,000 for the 8½% notes.

The dealer managers are Citigroup Global Markets Ltd. (+44 20 7986 8969, attn.: Liability Management Group, email: liabilitymanagement.europe@citi.com) and Natixis (+33 1 58 55 08 14 / +331 58 55 02 27, attn.: liability management group, email alcatel-tender-offers@natixis.com).

The tender agent is Citibank, NA, London Branch (+44 0 20 7508 3867, attn: Exchange Team, email: exchange.gats@citi.com).

Alcatel-Lucent is a Paris-based telecommunications services and equipment company.

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