Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Safran SA > News item |
Safran to sell €800 million Oceanes due 2027 to yield 0.375%-0.875%, up 40%-45%
By Rebecca Melvin
New York, May 12 – Safran SA has launched an offering of €800 million of convertible bonds in the Oceanes structure due May 15, 2027, according to a company news release.
The bonds will be issued at par and bear interest at 0.375% to 0.875%, with a 40% to 45% initial exchange premium. Final pricing is expected to be set on May 15.
The bonds are redeemable under certain conditions and have a change-of-control put. They may be converted at any time at a ratio of one share per bond.
The proceeds will be used for general corporate purposes.
BNP Paribas, Credit Agricole CIB, HSBC, Natixis and Societe Generale are joint bookrunners of the Regulation S deal.
The French state, which currently holds 11.23% of the company’s share capital, plans to subscribe for the offering in the same proportion as its shareholding in the company.
Application is being made to list the bonds on the Euronext Paris exchange.
The company also said that it is considering a benchmark-sized offering in the U.S. private placement market in the coming weeks.
Safran is a Paris-based multinational aircraft and rocket engine, aerospace component and defense company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.