Olympique Lyonnais plans €80.25 million mandatory convertibles

By Rebecca Melvin

New York, July 30 - Olympique Lyonnais Groupe SA launched an offering of €80,250,200 of 10-year mandatory convertible bonds at €100 par that will be sold with shareholders' preferential subscription rights through Wednesday and offered to the public in France from Aug. 1 through Aug. 14, according to a news release.

Proceeds of the Regulation S offering will be used to finance the football and soccer club's new stadium and to refinance expenses incurred within the project of which €9.8 million will be used to repay shareholder loans granted by Pathe and ICMI.

The issue is lead-managed by Societe Generale CIB acting as lead manager and bookrunner and by CM-CIC Securities and Credit Agricole CIB, acting as co-lead managers.

The bonds mature July 1, 2023, with early redemption subject to certain conditions.

Lyon, France-based Olympique Lyonnais is a football and soccer club.

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