sur SAFRAN (EPA:SAF)
Safran Announces Early Redemption of 2027 OCEANEs
Safran has announced the early redemption of its outstanding bonds convertible into new shares and/or exchangeable for existing shares, initially due on 15 May 2027. This early redemption will occur on 28 June 2024.
The company confirmed that the criteria outlined in section 9.3.1 of the bonds' terms and conditions have been met. Specifically, the daily product of the volume-weighted average trading price of Safran shares and the applicable conversion ratio surpassed 130% of the par value of the bonds for 20 consecutive trading days in April 2024.
On the redemption date, the bonds will be redeemed at par plus accrued interest, equivalent to €108.34416 per bond. Bondholders have the option to exercise their conversion rights until 19 June 2024.
As of the latest update, 8,510,275 of the originally issued 9,239,581 bonds remain outstanding. The centralizing agent for this transaction is Uptevia.
R. E.
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