Atos’ Bull plans to redeem remaining Oceanes due 2033 on Dec. 1

By Marisa Wong

Madison, Wis., Oct. 27 – Bull is planning an early redemption of all of its outstanding convertible bonds due Jan. 1, 2033, according to a press release.

The amount of outstanding Oceanes on Oct. 23 was 58,629 bonds, which is less than 10% of the 11,495,396 originally issued in May 2000.

The outstanding convertibles will be redeemed on Dec. 1 at a price of €15.06, plus accrued interest from Jan. 1, 2014 until the redemption date of €0.02, for a total of €15.08 per Oceane.

Through the end of the business day on Nov. 20, which is the seventh business day preceding the redemption date, bondholders may exercise their right to the allotment of Bull shares at a rate of 1 share per 10 Oceanes presented.

Considering Bull’s share price, however, there is no financial interest for a holder to exercise the conversion right, the release noted.

BNP Paribas Securities Services is the agent.

Bull is a Les Clayes-sous-Bois, France-based computer company recently acquired by Atos SE, an information technology services company based in Paris.

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