New York, Dec. 10 – Ausy said it priced a €30 million issue of convertibles in the Ornane structure due Jan. 1, 2021 with a 3.25% coupon and an 18% initial conversion premium.
Credit Agricole CIB was the global coordinator and bookrunner with Octo Finances as joint bookrunner.
The conversion price is €54.33, and conversions are payable in cash, stock or a combination, at the company’s option.
Ausy may redeem the Ornanes at par starting on Jan. 1, 2019 subject to a 130% stock price hurdle.
Proceeds from the offering will be used for the company’s general financing needs as well as for development projects, future acquisitions and to diversify financing sources.
Ausy is a Sevres, France-based consulting firm specializing in information systems and research and industrial systems.
| Issuer: | Ausy
|
| Issue: | Convertibles in Ornane structure
|
| Amount: | €29,999,993.73
|
| Maturity: | Jan. 1, 2021
|
| Bookrunners: | Credit Agricole CIB (global coordinator) and Octo Finances (joint books)
|
| Coupon: | 3.25%
|
| Price: | Par of €54.33
|
| Conversion premium: | 18%
|
| Conversion price: | €54.33
|
| Conversion ratio: | 1
|
| Call: | From Jan. 1, 2019 at par subject to 130% hurdle
|
| Net share settlement: | Cash, stock or a combination, at company’s option
|
| Pricing date: | Dec. 9, after close
|
| Settlement date: | Dec. 14 (short first coupon)
|
| Stock symbol: | Euronext Paris: OSI
|
| Stock price: | €45.80 at close on Dec. 9
|
| Market capitalization: | €204 million
|
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