Edenred in €500 Million Offering

September 6, 2019

Cleary Gottlieb represented Edenred in a €500 million offering of bonds, convertible into and/or exchangeable for new and/or existing shares of the issuer, known by the French acronym OCEANE.

Edenred will use the net proceeds of the offering for general corporate purposes, including the financing of potential external growth operations.

The bonds bear no interest and mature on September 6, 2024. The underlying shares and the bonds are respectively listed on Euronext Paris and Euronext Access of Euronext Paris. The transaction consists of an international private placement to qualified investors in France and outside France (excluding the United States, Australia, Canada, and Japan).

The offering launched and priced on September 3, 2019, and closed on September 6, 2019.

This offering was led by BNP Paribas and Société Générale, as joint global coordinators and joint bookrunners, and Crédit Agricole Corporate and Investment Bank, HSBC France, and J.P. Morgan Securities plc acted as joint bookrunners.

Edenred, the global leader in payment solutions for the working world, connects 830,000 corporate clients, and 1.7 million partner merchants across 46 countries. Thanks to its global technology platform, the group managed 2.5 billion transactions in 2018, primarily carried out via mobile applications, online platforms, and cards, and representing more than €28 billion in business volume.