Gemalto gets votes to make Thales issuer for 2.125% bonds due 2021

By Marisa Wong

Morgantown, W.Va., June 3 – Gemalto NV said holders voted in favor of the extraordinary resolution to amend its €450 million 2.125% bonds due September 2021.

The bondholders meeting was held in Paris on June 3.

As announced on May 7, the company sought to substitute Thales SA as the issuer of the bonds and make some amendments to the bonds’ terms and conditions in order to align them more closely with the terms and conditions of Thales’ debt securities.

The company offered a consent fee equal to 0.075% of par to holders who submitted consent instructions by 11 a.m. ET on May 28. Payment will be made on June 5.

The quorum required for the meeting was two or more people holding or representing at least 75% of the principal amount of the bonds. To be passed, the extraordinary resolution required a majority in favor consisting of not less than 75% of people voting.

Following completion of the public offering of Gemalto’s shares, Thales holds 97.02% of Gemalto’s shares with Gemalto becoming a subsidiary of Thales.

Gemalto previously said its objective is to centralize the management of the debt of the group at the level of Thales.

The solicitation agent is BNP Paribas (+44 20 7595 8668 or liability.management@bnpparibas.com). The tabulation agent is Lucid Issuer Services Ltd. (+44 20 7704 0880 or gemalto@lucid-is.com).

Gemalto is a digital security services company based in Amsterdam. Thales is a Paris-based technology company for the aerospace, transportation, defense and security markets.

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