BOURBON has successfully placed its first hybrid bond for ?100 million
(Thomson Reuters ONE) -
Paris, October 24, 2014
BOURBON has successfully placed its first hybrid bond issue for ?100 million
BOURBON has announced the completion of its first bond issue for ?100 million of
perpetual deeply-subordinated notes (Titres Super Subordonnés à Durée
Indéterminée - TSSDI). This issue has produced keen interest among European
professional investors and French portfolio management companies.
These perpetual notes, accounted for as equity under IFRS standards, are
callable by BOURBON at par starting in October 2017. They bear a fixed semi-
annual coupon of 4.70% for the first 3 years, payment of which is mandatory if
dividends are paid.
"After having consolidated the group's shareholders with the successful tender
offer launched by historical shareholder JACCAR Holdings last July, with this
new hybrid bond issue, we are pursuing the optimization of BOURBON's capital
structure and solidifying our financial position in accordance with our
Transforming for Beyond action plan", indicates Jacques de Chateauvieux,
Chairman of the Board.
The operation was conducted by Oddo & Cie, with advice being provided by
White & Case LLP and is listed on the unregulated Alternext market.
About BOURBON
Among the market leaders in marine services for offshore oil & gas, BOURBON
offers the most demanding oil & gas companies a wide range of marine services,
both surface and sub-surface, for offshore oil & gas fields and wind farms.
These extensive services rely on a broad range of the latest-generation vessels
and the expertise of more than 11,000 skilled employees. Through its 28
operating subsidiaries the group provides local services as close as possible to
customers and their operations throughout the world, of the highest standards of
service and safety.
BOURBON provides two operating Activities (Marine Services and Subsea Services)
and also protects the French coastline for the French Navy.
In the 1(st) half of 2014, BOURBON's revenue came to ?642.6 million and the
company operated a fleet of 501 vessels as of June 30, 2014. Under the "BOURBON
2015 Leadership Strategy" plan, the group has built a vast fleet of innovative,
high-performance mass produced offshore vessels.
The latest action plan "Transforming for beyond", financially provides for the
sale of existing vessels or those under construction totaling $2.5 billion and
then chartering these bareboat vessels over a period of 10 years. The first part
of the program involved a contract for 51 vessels worth $1.5 billion with ICBC
Financial Leasing. Through the "Transforming for beyond" action plan, BOURBON
intends to expand its strategic scope to new possibilities beyond 2015 ensuring
the creation of future value growth.
Placed by ICB (Industry Classification Benchmark) in the "Oil Services" sector,
BOURBON is listed on the Euronext Paris, Compartment A.
Contacts
BOURBON
Investor Relations, analysts, shareholders
James Fraser, CFA
+33 491 133 545
james.fraser(at)bourbon-online.com
Corporate Communications
Christelle Loisel
+33 491 136 732
christelle.loisel(at)bourbon-online.com
Media relations agency
Publicis Consultants
Jérôme Goaer
+33 144 824 624
jerome.goaer(at)consultants.publicis.fr
Véronique Duhoux
+33 144 824 633
veronique.duhoux(at)consultants.publicis.fr
Vilizara Lazarova
+33 144 824 634
vilizara.lazarova(at)consultants.publicis.fr
PDF version:
http://hugin.info/159569/R/1865537/655123.pdf
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originality of the information contained therein.
Source: BOURBON via GlobeNewswire
[HUG#1865537]
Unternehmensinformation / Kurzprofil:
Datum: 24.10.2014 - 15:00 Uhr
Sprache: Deutsch
News-ID 346803
Anzahl Zeichen: 4686
contact information:
Town:
Paris
Kategorie:
Business News
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