Linklaters and Allen & Overy acted as advisors on the tender offer by Suez on some of its existing bonds and on Suez's €700 million bond issue
Linklaters advised Suez on its tender offer relating to some of its existing series of bonds. Launched on 7 October 2019, the tender offer enabled to buy-back an aggregate nominal amount of €449.7 million. The settlement of the tender offer took place on 16 October 2019.
Concurrently with this tender offer, an issue of €700 million bonds was carried out by Suez under its EMTN programme. The funds raised in this bond issue are used to repurchase the existing bonds in the context of the tender offer and for the general corporate purposes of the group.
The bonds bear interest at a rate of 0.500 per cent. per annum, have a maturity of 12 years and are admitted to trading on Euronext Paris. This is the lowest coupon ever issued by the group.
The Linklaters team was led by Véronique Delaittre, Partner, with Olivia Giesecke, Senior Associate, Antoine Galvier and Batoul Laanani, Associates, and Nadine Eng, Senior Associate (who acted on tax issues).
Allen & Overy advised the banks’ syndicate composed of BNP Paribas, HSBC Bank pls and Natwest Markets N.V. who acted as Dealer Managers on the tender offer. BNP Paribas, HSBC Bank plc, Natwest Markets N.V., Banco Bilbao Vizcaya Argentaria S.A., Barclays Bank PLC, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Belgian Branch and SMBC Nikko Capital Markets Limited acted as joint lead managers on the new bond issue.
The Allen & Overy team was led by Hervé Ekué, Partner, with Laure Bellenger, Associate.