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Frances Lafayette collects tenders for 143.3 million of 4.75% bonds
By Susanna Moon
Chicago, May 4 Galeries Lafayette SA said investors had tendered 143.3 million of its 500 million of 4.75% bonds due April 26, 2019.
The tender offer ended at 10 a.m. ET on May 3.
After settlement on May 9, there will be 356.7 million principal amount of the bonds left outstanding, according to a company update on Thursday.
As announced April 24, the tender offer price will be 109.541% of par, or 109,541 for each 100,000 principal amount, assuming a settlement date of May 9.
Pricing was set using a tender offer yield of negative 0.1%.
The company also will pay accrued interest of 169.18 for each 100,000 principal amount.
The dealer managers are HSBC and Natixis.
The information agent will be Caceis Corporate Trust (+ 33 1 57 78 34 28; +331 57 78 32 67, fax + 33 1 49 08 05 87, david.pasquale@caceis.com, jean-charles.battaglia@caceis.com, LD-F-CT-OST-MARCHE-PRIMAIR@caceis.com).
Galeries Lafayette is a Paris-based company that owns 60-plus stores that offer private-label and designer apparel. The Moulin family, which helped found Galeries Lafayette, owns 100% of the company.
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