Edenred in Tender Offer and Bond Offering

March 18, 2015

Cleary Gottlieb advised Edenred in connection with the tender offer made by Société Générale on Edenred’s bonds maturing in 2017. Launched on February 24th, the offer led to the repurchase of bonds for close to €290 million.

This repurchase was followed by a €500 million bond issue by Edenred, on which Cleary Gottlieb also advised. The new bonds bear interest at an annual rate of 1.375% for a ten year maturity and are listed for trade on Euronext Paris. They are governed by French law.

The transaction enabled Edenred to significantly increase the average maturity of its debt.