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

By Marisa Wong

Los Angeles, June 29 – Ubisoft Entertainment has decided to withdraw its proposed tender offer to purchase for cash any and all of its outstanding €500 million 1.289% bonds due Jan. 30, 2023 (ISIN: FR0013313186), according to a Wednesday press release.

Ubisoft said it is withdrawing the offer given current market conditions.

The offer was announced on June 22 and had been set to expire on July 1.

Ubisoft was seeking to extend its maturity profile and further diversify its debt investor base through the tender offer.

The tender offer had been conditioned on completion of a new issuance of fixed-rate bonds for a total amount of €500 million.

The video game company is based in Paris.

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