Euronext Announces Tender Offer for its 2026 Bonds
Euronext N.V. has announced a cash tender offer for its €600 million 0.125% bonds due in 2026, while considering the issuance of new bonds.
Details of the Tender Offer
According to the announcement, Euronext N.V. is inviting holders of its bonds totaling €600 million, with an interest rate of 0.125% and maturing in May 2026, to tender their bonds for cash. The proposed purchase price is 99.05% of the nominal value of these bonds. The transaction is subject to certain conditions, including the successful completion of a new bond issuance.
Objective and Conditions of the Tender Offer
The primary goal of this initiative is to proactively manage the company's debt maturity profile. Euronext plans to repurchase and cancel the acquired bonds as part of this offer, and intends to repay those not repurchased at their maturity. The prerequisite for purchasing the repurchased bonds is the success of the new bond issuance, although this condition may be waived at the company's discretion.
Plans for New Bond Issuance
Euronext has also expressed its intention to launch new fixed-rate euro bonds, subject to market conditions. Current holders of the repurchased bonds might be given priority in the allocation of the new bonds, based on criteria determined by Euronext. The new bonds will not be offered to investors based in the United States, and the purchase will be subject to strict local securities legislation.
