Schneider Electric Launches a €800M OCEANE Due 2034 and Repurchases 2030 Issue
Schneider Electric announced on Thursday the launch of a convertible or exchangeable bond offering with a nominal amount of €800 million, maturing in 2034. Simultaneously, the group plans to repurchase its circulating convertible bonds maturing in 2030, with a principal amount of €650 million as of June 3, 2026.
The Rueil-Malmaison-based group is proceeding with a raise of convertible bonds (OCEANEs) with a nominal amount of €800 million, maturing on September 30, 2034. These securities will carry a fixed coupon rate between 0.25% and 0.75% per year, payable semi-annually (September 30 and March 30). The conversion/exchange into shares will include a premium ranging from 35% to 40% above the reference price on Euronext Paris.
Simultaneous Repurchase of the 2030 Bonds
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In parallel, Schneider Electric is initiating a reverse bookbuilding process to repurchase its OCEANEs maturing on November 27, 2030. The repurchase price is set at 145.7% of the nominal value (€145,700 per bond of €100,000 in principal), plus accrued interest estimated at €85.65 per €100,000 in nominal until the settlement scheduled for June 12, 2026. This operation is conditional upon the repurchase of at least 60% of the circulating amount of the OCEANEs for the group to proceed with the settlement.
Potential Dilution and Schedule
For illustrative purposes, Schneider Electric estimates the potential dilution at 0.4% of the capital if all the bonds were converted into new shares, based on a reference price of €283.45 and a conversion premium of 37.5%. Conversely, a 100% repurchase of the 2030 OCEANEs would prevent an estimated dilution of 0.5%. The settlement-delivery of the new bonds is expected on June 11, 2026; that of the repurchase on June 12, 2026. An admission to trading on Euronext Access is anticipated within 30 days following the settlement.
Nous avons bien commencé 2026, affichant une croissance organique à deux chiffres.
Le groupe a affiché une solide croissance des ventes au premier trimestre 2026.
Risks mentioned
Incertitudes macroéconomiques et géopolitiques accrues impactent les perspectives.
Attente d'une contribution plus significative des industries de process plus tard dans l'année.
Opportunities identified
Croissance solide des ventes de systèmes grâce à la forte demande.
Lancement de nouvelles solutions pour soutenir la transition énergétique.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
