(CercleFinance.com) – Fnac Darty announces the launch of a €500 million senior bond offering maturing in 2029 and a cash repurchase offer for its existing senior bonds maturing in 2024 and 2026.
The Company plans to use the gross proceeds from the Offering of New Bonds to repurchase the
Existing Obligations under the Tender Offer and pay fees and expenses relating to the Transactions. If all of the Existing 2024 Notes are not repurchased under the Tender Offer, the Company plans to repay them in full at a price of 100% following the closing of the Tender Offer.
The Company also plans, where applicable, the partial redemption of the Existing 2026 Bonds not repurchased under the Tender Offer when they will be redeemable at a price of 100% (from May 30, 2024) so that the amount in principal amount of the 2026 Existing Bonds, i.e. 50 million euros.