Worldline Strong success of the issuance of Bonds Convertible into New Shares and/or Exchangeable for Existing Shares (OCEANE) due 2025
Strong success of the issuance of Bonds Convertible into New Shares and/or Exchangeable for Existing Shares (OCEANE) due 2025
Bezons, July 23rd, 2020 - Worldline (the “Company”) (Euronext Paris: FR0011981968), the European leader in the payment and transactional services industry has successfully placed today bonds convertible into new shares and/or exchangeable for existing shares (“OCEANE”) due July 30, 2025 (the “Bonds”) for a nominal amount of approximately €600 million being offered to qualified investors (within the meaning of Regulation (EU) 2017/1129) only in accordance with Article L. 411-2-1° of the French monetary and financial code (Code monétaire et financier) (the “Offering”).
Following strong investor demand, the initial amount of €500 million has been increased to approximately €600 million.
The net proceeds of the Offering will be used for the pre-financing of the contemplated acquisition of Ingenico Group S.A. and/or for general corporate purposes.
Eric Heurtaux, Group Chief Financial Officer, said:
“We are pleased to announce the success of a convertible bond issuance of 600 million euros on very favorable terms, with both a negative yield and a high conversion premium for this maturity.
It confirms the attractiveness of Worldline and secures excellent conditions for the pre-financing of the Ingenico acquisition. This issuance complements the bonds issued for 1 billion euros on
June 30th and represents one more step towards the finalization of the Ingenico financing.”
The nominal value of the Bonds has been set at €119.44, corresponding to a premium of 57.50% above Worldline’s reference share price1 on the regulated market of Euronext in Paris (“Euronext Paris”).
The Bonds will not bear interest (zero-coupon) and will be issued at price of €126.96, i.e. 106.30% of their nominal value, corresponding to an annual gross yield-to-maturity of (1.22)%.
The settlement-delivery of the Bonds is expected to take place on July 30, 2020 (the “Issue Date”).
Unless previously converted, exchanged, redeemed or purchased and cancelled, the Bonds will be redeemed at par on July 30, 2025 (the “Maturity Date”) (or on the following business day if this date is not a business day).