Societe Generale tenders for €300 million of Edenred’s 3.625% bonds

By Jennifer Chiou

New York, Feb. 24 – Societe Generale announced the start of the maximum €300 million tender offer for Edenred SA’s €800 million of outstanding 3.625% bonds due October 2017.

Assuming a settlement date of March 9, the hypothetical tender consideration will be €54,673 for each €50,000 of bonds, according to a company filing.

Edenred said the purpose of the offer is to lengthen its debt maturity profile. The company also announced plans to issue new bonds.

The offer will end on March 2, and pricing is anticipated on March 3.

If tenders are received in excess of the maximum amount, they will be accepted on a pro rata basis.

Questions may be directed to tender agent Societe Generale (attn: Adeline Doré; 33 2 51 85 52 43 or fax 33 1 51 85 57 20; nantes.gis-op-titres@sgss.socgen.com). Lucid Issuer Services Ltd. is the information agent (attn: Thomas Choquet; 44 20 7704 0880; edenred@lucid-is.com).

The structuring advisers are Credit Agricole Corporate and Investment Bank and Societe Generale. They are also among the dealer managers, which also include Banco Santander, SA, Barclays Bank plc, BNP Paribas and HSBC Bank plc.

Edenred, based in Malakoff, France, offers employee benefits products, including meal and food vouchers under the Ticket Restaurant and Ticket Alimentacion brand names, and quality of life benefits products, which comprise vouchers that allow employers to contribute for childcare.

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