Capgemini Repurchases €574.4 Million Existing Notes and Issues €1.1 Billion Offering

April 19, 2018

Cleary Gottlieb represented Capgemini in connection with the tender offer launched by BNP Paribas for Capgemini’s outstanding bonds maturing in 2020.

This tender offer launched on April 3, 2018, and expired on April 10, 2018. Bonds for a nominal amount of €574.4 million were presented and accepted for repurchase.

At the same time, Cleary represented Capgemini in the issue of new euro-denominated notes fully subscribed comprising two tranches maturing in October 18, 2024 and April 18, 2028, for a principal amount of respectively €600 million bearing interest at 1 percent and €500 million bearing interest at 1.75 percent.

The new notes maturing in 2024 were fully subscribed by BNP Paribas in exchange for the existing notes maturing in 2020 transferred to Capgemini pursuant to the tender offer, and then cancelled by it. The net proceeds of the issue of the new notes maturing in 2028 will be used by Capgemini for general corporate purposes, including the redemption of the €500 million floating rate notes maturing in 2018.

This issuance closed on April 18, 2018, and was led by BNP Paribas, Barclays Bank plc, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, HSBC Bank plc, Morgan Stanley & Co. International plc, Natixis and Société Générale.

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