Assystem holders may put 4% Ornanes due 2017 after change of control

By Susanna Moon

Chicago, March 20 - Assystem said holders may put their 4% Ornane bonds due Jan. 1, 2017 as a result of a change of control that occurred under the note terms.

The Ornanes are putable from March 21 to the close of business on April 10, with settlement in cash on April 17, according to a company press release.

The put option was triggered by the change of control that occurred after the public offer by HDL Development for all outstanding Assystem shares, redeemable share warrants and bonds redeemable in cash and/or stock at the holder's option, the company said.

The Ornanes will be redeemed for €22.2556 each, corresponding to the €22 par value plus the interest accrued since the last interest payment date before the date of early redemption until the settlement date, namely €2.556, the release noted.

The Ornanes are redeemable in cash and/or stock at the holder's option and were issued by Assystem on July 6, 2011.

Assystem is an engineering and innovation consultancy based in Paris.

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