Schneider Electric: issue and repurchase of OCEANEs

(CercleFinance.com) - Schneider Electric announces the launch of an issue of OCEANEs due 2031, by way of placement with qualified investors only, the net proceeds of which will be used to finance the buyback of the OCEANEs due 2026 issued in November 2020.


The buyback of the OCEANEs 2026 will be carried out as part of a concurrent buyback offer via a reverse order book construction procedure which may be followed by an early redemption.

Settlement-delivery of the bond buyback is scheduled for 1 July, subject to Schneider's right not to proceed with these transactions if the expressions of interest received from holders of OCEANEs 2026 represent less than 60% of the outstanding principal amount.


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