By Stephanie N. Rotondo
Seattle, May 10 – Vinci SA sold an additional $125 million of its 0.375% non-dilutive cash-settled convertible bonds due 2022 at 108.625% of nominal value plus accrued interest, the company said in a press release on Wednesday.
The final tap price will be announced on Friday, following a two-day reference period.
Societe Generale CIB is acting as the global coordinator and bookrunner. BNP Paribas is also a bookrunner on the deal.
The French construction company initially sold $450 million of the bonds on Feb. 9. On Feb. 23, the conversion price was set at €84.2505, representing a 22.5% initial conversion premium.
In connection with the add-on offering, Vinci will purchase cash-settled call options to hedge its economic exposure. It is also expected that hedge counterparties to the call options will enter into various hedging transactions.
| Issuer: | Vinci SA
|
| Securities: | Non-dilutive cash-settled convertible bonds
|
| Amount: | $125 million
|
| Maturity: | 2022
|
| Bookrunners: | Societe Generale CIB and BNP Paribas
|
| Coupon: | 0.375%
|
| Price: | 108.625% of nominal value plus accrued interest
|
| Pricing date: | May 10
|
| Settlement date: | May 18
|
| Talk: | 108.625% to 109.625% of nominal value plus accrued interest
|
| Stock symbol: | EPA: DG
|
| Stock price: | €78.32 as of May 10
|
| Market capitalization: | €44.17 billion
|
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