Canal+ in €700 Million Bond Offering

Cleary Gottlieb represented Canal+ in connection with its bond offering of €700 million.

The transaction consisted in an offering of €700 million aggregate principal amount of 4.875% bonds due May 20, 2032, which closed on May 20, 2026. The bonds are unrated and have been admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange.

The net proceeds of the bonds issuance will be used by Canal+ for general corporate purposes, including the refinancing of the outstanding €500 million senior unsecured bridge loan facility, which was entered into in December 2025.

Canal+ is a leader in the creation and distribution of content in the world.

The Cleary team included partner Valérie Lemaitre, counsel Laura Birène, and associate Megi Jashari. Partner Anne-Sophie Coustel and senior attorney Benjamin Boisanté advised on French tax law.