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Alcatel-Lucent pays €199.44 million to purchase 2015 Oceanes so far; more buybacks planned
By Susanna Moon
Chicago, June 26 - Alcatel-Lucent said it completed the offer to repurchase up to €300 million of 2015 convertible bonds in the Oceane structure from April 30 to May 15.
Under the offer, 59,891,735 Oceanes were repurchased for an aggregate amount of €199,439,477.55, or €3.33 per Oceane including accrued interest, according to a company press release.
As of June 26, there was €806,549,695.24 principal amount of 2015 Oceanes outstanding.
Alcatel-Lucent said it will now solicit, via Deutsche Bank, Citi and Natixis, from some holders of 2015 Oceanes outside the United States interest in selling the 2015 Oceanes to the company as part of a reverse bookbuilding process.
Based on the indications of interest, Alcatel-Lucent said it may decide to purchase all or part of the 2015 Oceanes tendered by the holders.
The company will repurchase the bonds on July 4.
The buyback is conditioned on the issue of €550 million of five-year convertible bonds in the Oceane structure, which was also launched June 26.
Also, the period during which the company will purchase 2015 Oceanes on the market in France will be July 5 to July 11, or the five consecutive trading days from the day following the settlement and delivery date of the off-market repurchase, the press release noted.
This standing purchase order will be financed by proceeds from the bond issuance after the off-market repurchase and by the company's "own resources," the company said.
Deutsche Bank, Citi and Natixis are the dealer managers.
Paris-based Alcatel-Lucent provides solutions to deliver voice, data and video communication services to end-users.
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