Euronext launches €425M convertible bonds offering to repay bridge financing, support corporate goals, and strengthen financial flexibility.
Euronext launches €425M convertible bonds offering to repay bridge financing, support corporate goals, and strengthen financial flexibility.
Euronext announced today the launch of a €425M offering of senior unsecured bonds due in 2032. Known as OCEANEs, these bonds are convertible into new shares or exchangeable for existing shares of the company. The offering is exclusively available to qualified investors and aims to strengthen Euronext’s financial flexibility.
The company had earlier, on 17 April 2025, entered into a bridge loan facility with affiliates of the joint bookrunners supporting this offering. This loan helped fund Euronext’s acquisition of Admincontrol. Now, Euronext plans to use the net proceeds from the bond offering to partially repay that bridge financing and support general corporate needs. The firm will issue each bond with a denomination of €100,000 and will pay a fixed annual coupon between 1.5% and 2.0%, payable semi-annually on 30 May and 30 November.
The firm has scheduled the first payment for 30 November 2025. Euronext has designed the bonds to be attractive to investors while maintaining strong terms for the company’s long-term vision. Furthermore, Euronext will set the initial conversion price at a premium of 30% to 35% above the company’s share price listed on the regulated Euronext market in Paris.
Euronext expects to confirm the final terms following the bookbuilding process, which concludes later today. The company has scheduled the settlement and delivery of the bonds for 30 May 2025. Euronext also highlighted that, unless converted, exchanged, redeemed, or repurchased, the bonds will be fully redeemed at par value on 30 May 2032. However, the company retains the option to redeem the bonds before maturity under certain conditions.
Additionally, Euronext will apply to trade the bonds on Euronext Access in Paris within 30 calendar days from the issue date. This marks another step forward in their strategy to support long-term shareholder value and operational excellence, emphasizing Euronext’s continued commitment to robust financial planning and investor confidence.
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