Lagardere issues put option notice for bonds due 2024, 2026, 2027

By Mary-Katherine Stinson

Lexington, Ky., Nov. 22 – Lagardere SA issued put option notices for three of its bonds.

The bonds covered in the notices are the following:

• €300 million 1.625% bonds due 2024 (ISIN: VFR0013262912);

• €500 million 2.125% bonds due 2026 (ISIN: FR0013449261); and

• €500 million 1.75% bonds due 2027 (ISIN: FR0014005SR9).

The put was triggered by a change of control. On Feb. 21, Vivendi SE made a friendly public tender offer for the issuer’s shares with the exercise of the voting rights attached to the shares being subject to the full implementation by Vivendi of certain sale procedures required by the European Commission.

On Nov. 21, the sale closed and the full implementation of Vivendi’s voting rights, which totaled just over 50%, resulted in a change of control.

Bondholders have a 45-day period in which they may exercise their put option. To do so, bondholders must complete a written put option notice and submit it to the agent, BNP Paribas. The notice must arrive by 11 a.m. ET on the fifth business day before the relevant optional redemption date.

Lagardere is a media company based in Paris.

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