Activity

Euronext, the leading pan-European market infrastructure, has successfully launched and priced an offering of senior unsecured bonds due 2032. These bonds, which are convertible into new shares and/or exchangeable for existing shares of Euronext (OCEANEs), have a nominal amount of €425 million.
Here are some key details of the offering:
* Maturity Date: May 30, 2032
* Coupon Rate: The bonds will pay a fixed coupon at a rate of 1.50% per annum, payable semi-annually on May 30 and November 30 of each year.
* Denomination: Each bond will have a principal amount of €100,000.
* Convertibility/Exchangeability: The bonds are convertible into new shares and/or exchangeable for existing shares of Euronext. The initial conversion price is set at €191.1654, representing a 35% premium above Euronext’s reference share price on Euronext Paris.
* Use of Proceeds: The net proceeds from this offering will be primarily used to repay a portion of a bridge loan facility that Euronext secured on April 17, 2025, to finance the acquisition of Admincontrol. Any remaining capital will be used for general corporate purposes.
* Redemption: Unless previously converted, exchanged, redeemed, or purchased and cancelled, the bonds will be redeemed at par on the maturity date. Euronext also has the option to redeem the bonds early under certain conditions, such as from June 20, 2030, if the share price exceeds a certain threshold.
* Placement: The offering was conducted through a private placement to qualified investors only, excluding retail investors.
* Settlement and Delivery: Settlement and delivery of the bonds are expected to take place on May 30, 2025.
* Listing: Application will be made for the admission of the bonds to trading on Euronext Access in Paris within 30 calendar days from the issue date.
* No Preferential Rights: Existing shareholders of Euronext did not have preferential subscription rights in connection with this offering.
This bond offering is part of Euronext’s strategy to manage its financing and capitalize on market opportunities.

Video courtesy of Escrow.com

Video courtesy of Escrow.com