Maurel & Prom in €375 Million Convertible Bond Offering

March 9, 2005

Cleary Gottlieb represented BNP Paribas and Natexis Bleichroeder S.A. as managers in an offering by leading independent oil company Maurel & Prom of €375 million principal amount of convertible bonds.  The bonds were initially offered to institutional investors in and outside France under Regulation S and subsequently offered to the public exclusively in France.  The bonds were listed on the Eurolist Market of Euronext Paris S.A.  

Due to strong investor demand during the private placement, the company increased the size of the offering from €270 million to €327 million, and again to €375 million.