Teleperformance Launches Bond Refinancing to Optimize Debt
Teleperformance announced on Monday the initiation of a bond refinancing operation aimed at optimizing its debt structure and enhancing the strength of its balance sheet. The operation includes the issuance of new bonds and a partial tender offer on its existing debt lines.
Teleperformance plans to issue new senior unsecured fixed-rate bonds, with two maturities: a 5-year tranche and an 8-year tranche. These new bonds will be issued under the company's EMTN program and will be admitted to trading on Euronext Paris. Concurrently, the company is launching a partial tender offer targeting two series of existing bonds: EUR 500 million of 0.250% bonds maturing in November 2027, and EUR 700 million of 5.250% bonds maturing in November 2028. The acceptance terms for each series will be determined at Teleperformance's sole discretion following the close of the tender offer.
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The tender offer begins Monday, May 18, 2026, and ends on May 26 at 4 PM (Paris time). The results will be communicated via a press release on May 27. The settlement of the new bonds is scheduled for May 28, 2026, with the settlement of the tender offer expected on May 29. The new bonds are expected to receive a BBB rating from S&P, consistent with Teleperformance's rating, which was confirmed by the agency on March 13, 2026, with a stable outlook. The proceeds from the issuance will be used to finance the repurchase of existing bonds, with the remainder allocated to the general needs of the company.
SectorServices aux entreprises›Services de soutien aux entreprises
Context
Period
Period: 9M 2025
Guidance from the release
Le troisième trimestre 2025 s’est globalement inscrit dans la continuité du premier semestre et a démontré la résilience de LanguageLine Solutions.
Chiffre d'affaires 9M 2025 de 7 623 millions d’euros (+ 1,5 % à données comparables). Core services porteurs (+ 3,2 % à données comparables sur 9M). Impact négatif des changes et non-renouvellement d’un contrat significatif sur les services spécialisés. Déploiement accéléré des solutions IA et création d’un Value Creation Office.
Risks mentioned
Volatilité de l'environnement commercial aux États-Unis affectant les services d'interprétariat (LanguageLine Solutions)
Non-renouvellement d’un contrat significatif dans la gestion des demandes de visa (TLScontact)
Impact négatif significatif des variations de change (appréciation de l’euro)
Hyperinflation en Argentine et en Turquie (application IAS 29) affectant la comparabilité
Opportunities identified
Déploiement de TP.ai FAB et solutions augmentées par l'IA (plus de 400 nouveaux projets d’IA sur 9M 2025)
Montée en puissance des solutions de back-office et services de données liés à l'IA
Création du Value Creation Office pour accélérer la transformation et améliorer l'efficacité opérationnelle
Croissance attendue en Inde et en Amérique latine pour les solutions BPO et domestiques
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