Infogrames submits Oceane exchange offer to Financial Markets Authority in last step of restructuring

By Caroline Salls

Pittsburgh, Jan. 26 - Infogrames Entertainment has submitted a preliminary information note on the simplified exchange tender offer for its Oceane 2003 to 2009 bonds to the Financial Markets Authority as part of the last step of the group's debt restructuring plan, according to a company news release.

According to the release, the implementation and timetable of the exchange offer is contingent on the approval of the Financial Markets Authority, which will issue its decision in the next few days.

Infogrames said the simplified exchange tender offer applies to all 16.49 million of the Oceane bonds outstanding, each of which would be exchangeable for 32 new company shares.

Under the timetable for the offer, the exchange offer will begin on Feb. 12 and end on March 9.

Notice of the results of the offer is due March 16, and the scheduled date for settlement/delivery and first listing of the new offer shares is March 21.

Infogrames Entertainment is a computer games company based in Lyon, France.

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