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Assystem may repurchase €89 million Ornanes via reverse bookbuilding
By Susanna Moon
Chicago, July 9 – Assystem SA said it plans to repurchase its €89 million of Ornane bonds due Jan. 1, 2017 through a reverse bookbuilding process.
The company began a reverse bookbuilding process through the Coordinateurs Globaux and Chefs de File Associes, according to a press release.
The company said it reserves the right not to proceed with its planned new issue of the bonds and the repurchase of the 2017 Ornane if interest from holders is less than 50% of the number issued, the release noted.
The company will repurchase the 2017 Ornane off the market on the trading day following the settlement date of the new issue.
After the repurchase, the company said it may launch a repurchase offer in France on Euronext Paris for a period of five consecutive trading days, in order to ensure that all the holders of the Ornanes are treated equally.
The company said it also reserves the right to ask for early redemption of the 2017 Ornanes after the close of the reverse bookbuilding process and the repurchase offer.
The repurchased 2017 Ornanes will be canceled.
The company also launched an offering of net share settled bonds with an indefinite term convertible into new shares and exchangeable for existing shares, or Odirnanes, without preferential subscription rights and without a priority period, in an initial amount of about €120 million, which may be increased up to a maximum nominal amount of about €140 million in case of full exercise of the extension clause, and with an over-allotment option for a total of €160 million.
Assystem is an engineering and innovation consultancy based in Paris.
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