By Rebecca Melvin
New York, June 23 – Ingenico Group priced €500 million of seven-year convertible bonds in the Oceane structure at par to yield 0% with an initial conversion premium of 55%, according to a release.
Pricing was at the rich end and beyond the rich end of talked terms for 0% to 0.5% coupon and 40% to 50% premium.
The bonds are non-callable.
Joint bookrunners of the Regulation S deal were Goldman Sachs International, Societe Generale Corporate & Investment Banking, HSBC and Natixis.
Ingenico said the offering was “significantly over-subscribed.”
Proceeds will be used to extend the company’s debt maturities and finance growth.
Ingenico plans to list the bonds on the open market of Euronext in Paris.
Paris, France-based Ingenico makes payment processing terminals.
| Issuer: | Ingenico SA
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| Issue: | Convertible bonds in Oceane structure
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| Amount: | €500 million
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| Maturity: | June 26, 2022
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| Bookrunners: | Goldman Sachs International, Societe Generale Corporate & Investment Banking, HSBC and Natixis
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| Coupon: | 0%
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| Price: | Par of €172.15
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| Yield: | 0%
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| Conversion premium: | 55%
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| Conversion price: | €172.15
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| Conversion ratio: 1
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| Call protection: | Non-callable
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| Price talk: | 0%-0.5%, up 40%-50%
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| Pricing date: | June 23
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| Settlement date: | June 26
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| Stock symbol: | Paris: ING
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| Stock price: | €111.90, at close June 23
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