Soitec in €150 Million Offering

June 28, 2018

Cleary Gottlieb represented Soitec in connection with the €150 million offering of bonds, convertible into and/or exchangeable for new or existing shares of the issuer (known by the French acronym OCEANE).

Soitec will use the net proceeds of the offering for general corporate purposes. In connection with the issuance, the short-term bank loans of Soitec, in a principal amount of approximately €30 million, were repaid in full together with interest accrued.

The bonds bear no interest and mature on June 28, 2023. The underlying shares and the bonds are respectively listed on Euronext Paris and Euronext Access. The transaction consists of an international private placement to institutional investors in France and outside France (excluding in particular the United States of America, Canada, Australia or Japan).

The offering launched and priced on June 21, 2018 and closed on June 28, 2018.

This offering was led by BNP Paribas and Société Générale, as joint global coordinators and joint bookrunners and Jefferies acted as joint bookrunner.

Soitec is a world leader in designing and manufacturing innovative semiconductor materials, with unique technologies and semiconductor expertise to serve the electronics markets.