Capgemini tenders for €500 million of 1.75% bonds due 2020 via issue

By Susanna Moon

Chicago, April 3 – Capgemini SA is offering to purchase up to €500 million of its €1.25 billion of 1.75% bonds due July 1, 2020.

The tender offer is expected to expire at 10 a.m. ET on April 10.

The company also plans to price €500 million of 6.5-year senior notes and €500 million of 10-year senior notes.

Capgemini plans to exchange some or all of the 2024 bonds with the 2020 bonds acquired by BNP Paribas through the tender offer, according to a company announcement.

Proceeds from the 2028 bonds and any remaining from the 2024 bonds will be used for general corporate purposes, including the redemption of the €500 million of bonds due July 2, 2018.

“Through these transactions, which will have no significant impact on the total amount of the group's debt, Capgemini intends to take advantage of current attractive market conditions to proactively manage its debt maturity profile,” the release noted.

The issuer is a Paris-based consulting and outsourcing company.

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