Ubisoft begins tender offer for €500 million 1.289% bonds due 2023

By Marisa Wong

Los Angeles, June 22 – Ubisoft Entertainment announced it launched a tender offer to purchase for cash any and all of its outstanding €500 million 1.289% bonds due Jan. 30, 2023 (ISIN: FR0013313186).

The tender offer expires July 1.

The transaction will allow Ubisoft to extend its maturity profile and further diversify its debt investor base, according to a press release.

Ubisoft said it will concurrently price a new fixed-rate bond issue for a total amount of €500 million, solely to qualified investors. This is Ubisoft’s third bond market offering.

Proceeds of the new bonds will be used for general corporate purposes and to refinance some of Ubisoft’s existing debt, in particular the outstanding 1.289% bonds due 2023.

The tender offer is conditioned on completion of the new issuance.

The video game company is based in Paris.

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