Alstom tenders for €500 million principal amount of five note series

By Susanna Moon

Chicago, Feb. 9 – Alstom SA said it is tendering for up to €500 million principal amount of five series of notes until 10 a.m. ET on Feb. 16.

In the tender offer, priority will be given to the first three note series listed below with pricing to be set using the interpolated mid-swap rate plus a fixed spread as follows;

• €750 million 4.5% bonds due March 18, 2020 with an offer spread of 85 basis points;

• €500 million 3% notes due July 8, 2019 plus 75 bps; and

• €500 million 3.625% bonds due Oct. 5, 2018 plus 55 bps.

For the second-priority notes, pricing will be as follows:

• €350 million 2.25% notes due Oct. 11, 2017 will price using mid-swaps plus 40 bps; and

• €750 million 4.125% bonds due Feb. 1, 2017 with tender offer price of 103.823, or €51,911.50 per €50,000 par amount, if settlement is Feb. 19, for a tender offer yield of 0.10%.

Pricing will be set at 7 a.m. ET on Feb. 17.

The dealer managers are Societe Generale (+33 1 42 13 32 40 or liability.management@sgcib.com), Barclays Bank plc (+44 203 134 8515 or eu.lm@barclays.com), UniCredit Bank AG (+49 89 378 13722 or corporate.lm@unicredit.de), Banca IMI SpA and Banco Bilbao Vizcaya Argentaria, SA.

The information agent is BNP Paribas Securities Services (+33 1 57 43 10 77 or paris.bp2s.information.agent@bnpparibas.com). The tender agent is BNP Paribas Securities Services (+33 1 55 77 61 60, fax +33 1 57 43 31 38 or paris.bp2s.offers@bnpparibas.com).

Alstom is engaged in transportation activities through Alstom Transport. The company is based in Saint-Ouen, France.

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