(AOF) – Schneider Electric announced the launch of an issue of senior unsecured bonds with the option of conversion into new shares and/or exchange into existing shares of the company (Oceanes) maturing in 2030, by way of placement from qualified investors only, for a nominal amount of 650 million euros, which can be increased to a maximum nominal amount of 750 million euros in the event of full exercise of the extension clause. The net proceeds from the issue will be used for the general purposes of the company.
The bonds will have a unit nominal value of 100,000 euros, will be convertible and/or exchangeable into new and/or existing shares of Schneider Electric and will bear interest at a fixed annual rate of between 1.47% and 1.97% payable semi-annually at term expires on May 27 and November 27 of each year, and for the first time on May 27, 2024.
The conversion/exchange premium will be between 42.50% and 47.50% over the company’s reference share price.
Unless previously converted, exchanged, redeemed, or repurchased and canceled, the bonds will be redeemed at par on November 27, 2030. They may be subject to early redemption at the option of the Company, under certain conditions.
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