Assystem buys back 50.88% of 4.5% Odirnanes in reverse bookbuilding

By Susanna Moon

Chicago, Sept. 27 – Assystem SA will repurchase 50.88% of its 5,602,240 outstanding 4.5% perpetual notes issued in the Odirnane structure through a reverse bookbuilding.

The company held the buyback offer from Sept. 26 until Sept. 27.

Assystem will buy back 2,850,281 of the Odirnanes at a unit price of €34.50 each including accrued interest for a global amount of about €98,334,694.50, according to a company notice.

After settlement on Sept. 30, there will be 2,751,959, or 49.12%, of the number of the Odirnanes left outstanding.

The company will offer to repurchase the notes at the same price for five consecutive trading days in France to ensure equal treatment among all Odirnane holders. The offer is expected to run from Oct. 3 until Oct. 7, with settlement on Oct. 13.

In the buyback offer that ended on Tuesday, the repurchase price was set using a modified Dutch auction procedure.

Societe Generale CIB was the dealer manager.

The company said it reserves the right to repurchase the Odirnanes on or off the market after the close of the repurchase offer.

The company also reserves the right to call the Odirnanes.

The Odirnanes are convertible into new shares or exchangeable for existing shares and were issued on July 9, 2014.

Assystem is an engineering and innovation consultancy based in Paris.

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