Ubisoft to repurchase about €250 million Oceanes due 2024 at €110.7

By Mary-Katherine Stinson

Lexington, Ky., Nov. 28 – Ubisoft Entertainment SA will repurchase its outstanding Oceanes due Sept. 24, 2024 for a nominal amount of about €250 million, after the successful placement of notes due 2031 for a nominal amount of €494.5 million in accordance with the French Monetary and Financial Code, according to a notice.

The repurchase represents about 50% of the original issue.

The repurchase price per 2024 Oceane was set at €110.7.

The concurrent repurchase was accomplished through a reverse book building process with the repurchase price talked between €110.4 and €110.9, as previously reported.

As at the close of business on Nov. 27, the aggregate principal amount of outstanding 2024 Oceanes amounted to €499,999,897.

Settlement is expected for Dec. 6. The repurchased Oceanes will be canceled.

Following cancellation, €249,999,891 will remain outstanding.

BNP Paribas, Credit Agricole CIB and J.P. Morgan SE acted as joint dealer managers for the repurchase.

Ubisoft is a Montreuil, France-based video game publisher.

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