Unibail-Rodamco successfully placed today net share settled bonds convertible into new shares and/or exchangeable for existing shares (ORNANE) due July 1, 2021 (the "Bonds"), for a nominal amount of approximately €500 million.
The proceeds of the issue are a part of the Unibail-Rodamco group's (the "Group") diversification policy of its financing sources. They will, with the other fundings, enable the Group to address its general financing needs, including its existing and future development and acquisition projects.
The nominal value per Bond has been set at €288.06, representing a premium of 37.5% over Unibail-Rodamco's reference share price on Euronext. The issue size is €499,999,856.94, consisting of 1,735,749 Bonds.
The Bonds will not bear interest.
The Bonds will be redeemed at par on July 1, 2021 (or on the first following business day if such date is not a business day). They may be redeemed prior to the maturity date at the option of Unibail-Rodamco as well as at the option of the bondholders on July 1, 2019 pursuant to the terms described in the prospectus relating to this transaction submitted to the French Autorité des marchés financiers
(the "AMF") for its visa.
In the case of the exercise of their right to convert or exchange their Bonds, bondholders will receive an amount in cash and, as the case may be, an amount payable in new and/or existing shares of Unibail-Rodamco.
The Company also has the option to deliver new and/or existing shares of Unibail-Rodamco only.
The AMF has granted visa n°14-296 on 17 June 2014 on the prospectus relating to this transaction. The prospectus includes a securities note, a summary of the prospectus included in the securities note and the registration document (document de référence
) filed with the AMF under no. D.14-0161 on 18 March 2014.
The Bonds will be offered to the public in France from 18 June to 20 June 2014, 17.00 (Paris time).
The issue and settlement date of the Bonds is expected to occur on 25 June 2014.
An application for listing of the Bonds on regulated market of Euronext in Paris ("Euronext Paris") has been made.