Michelin to redeem 1.125% bonds via residual maturity call option

Chicago, Feb. 25 – Compagnie Generale des Etablissements Michelin will redeem the €300 million outstanding 1.125% guaranteed bonds due 2022 (ISIN: XS1233732194) early on March 8, according to a notice.

The notes were originally issued by Michelin Luxembourg SCS on May 28, 2015 with the issuer substituted for Compagnie Generale on Oct. 13, 2020.

The notes are being redeemed at par plus interest via the issuer’s exercise of its rights to a residual maturity call option.

Michelin is a Clermont-Ferrand, France-based tire manufacturing company.

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