(CercleFinance.com) – Wendel, which holds 35.5% of the capital and 51.7% of the voting rights of Bureau Veritas, announces its intention to issue bonds exchangeable for Bureau Veritas shares maturing in 2026, for a nominal amount of approximately 750 million euros.
These bonds will be issued at a premium of 25% above the reference price of the Bureau Veritas share. The final terms will be determined once the order book has been built and settlement-delivery should take place on March 27.
Following this transaction, Wendel will retain control of Bureau Veritas and in the event that the bonds are fully exchanged at maturity, it will retain a stake of around 30.6% of the capital and around 46.1% voting rights.
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