Cegedim launches cash tender offer for €300 million 7% notes due 2015

By Marisa Wong

Madison, Wis., March 7 - Cegedim SA announced a cash tender offer for any and all of its €300 million of 7% notes due 2015.

The offer will expire at 4 p.m. ET on March 13.

The price for tendered notes accepted for purchase will be 108, or €54,000 per €50,000 principal amount, along with accrued interest up to the payment date, which is expected to be March 21.

Each holder must tender a minimum of €50,000 of notes.

The offer is conditioned on an issuance of new euro-denominated notes, proceeds of which will be used to purchase the 7% notes.

The Paris-based company said the purpose of the tender offer is to manage its debt maturity profile in light of current market conditions.

Cegedim is a global technology and services company specializing in health care.

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