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.
Issuance of New Bonds and Targeted Refinancing
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.
Schedule and Expected Rating
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.
