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Och-Ziff eyes $400 million; Atos wraps 300 million bonds; Pixium places 11 million
By Devika Patel
Knoxville, Tenn., Sept. 29 Thursdays private placements were fairly quiet, with just three offerings announced.
Och-Ziff Capital Management Group LLC said it plans a $400 million private placement of preferred units; Atos SE completed a 300 million euro private placement of 1.444% bonds due October 2023 with European institutional investors and Pixium Vision SA said it plans to place 11 million of its 11.5% bonds and warrants for 207,817 shares with Kreos Capital through a three-tranche private placement.
Och-Ziff, a New York institutional alternative asset manager, is selling non-voting preferred equity interests. Distributions will be payable on a cumulative basis at an initial distribution rate of 0% per annum until Feb. 19, 2020, after which the distribution rate will increase in stages to a maximum of 10% per annum after eight years.
The units may be redeemed at prices ranging from par to 105. The company may be forced to redeem the units.
The Pixium warrants are each exercisable at 5.2931 for seven years. The Paris-based company plans tranches of 4 million, which will settle by March 27, 2017, 4 million, expected to settle by June 30, 2017, and 3 million, an optional tranche that is slated to settle by Oct. 31, 2017.
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