Veolia Environnement launches tender offer for 6.75% notes due 2038

By Marisa Wong

Los Angeles, Nov. 10 – Veolia Environnement SA announced it has begun an offer to purchase for cash any and all of its $300 million outstanding 6.75% notes due June 1, 2038 (Cusip: 92334NAC7), according to a press release.

The purchase price will be calculated using the 3.375% U.S. Treasury due Aug. 15, 2042 and a fixed spread of 145 basis points.

In addition, the company will pay accrued interest.

The offer expires at 5 p.m. ET on Nov. 18. Tenders may be withdrawn at any time before then.

Tenders under guaranteed delivery procedures are due by 5 p.m. ET on the second business day after the expiration date.

Settlement is expected to be on Nov. 23.

The offer is not contingent on the tender of any minimum principal amount.

The purpose of the tender offer is to reduce the company’s outstanding debt and interest expense.

Citigroup Global Markets Ltd. (800 558-3745, +44 20 7986 8969 or liabilitymanagement.europe@ citi.com) and MUFG Securities Americas Inc. (212 405-7481, 877 744-4532 or +33 1 70 91 42 79) are the dealer managers.

Global Bondholder Services Corp. (855 654-2015 or https://www.gbsc-usa.com/ veolia) is the depositary and information agent.

Veolia is an environmental services provider based in Paris.

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