COFACE S.A. announcement the success of its debt management exercise
Paris, 21 September 2022 – 15.30
COFACE SA (the “Company“) announces today the results of the tender offer which expired at 4:00 p.m. CET on September 20, 2022 (the “Take-over bid“) to redeem its secured subordinated notes in the amount of €380,000,000 bearing a fixed interest rate of 4.125%, maturing on March 27, 2024, unconditionally and irrevocably guaranteed on a subordinated basis by Company french insurance for trade outside (ISIN: FR0011805803) (the “Remarks”). The Notes are admitted to trading on the regulated market of Euronext Paris.
The Company has exceeded the maximum acceptance amount initially announced to the market and will accept the redemption of a principal amount of EUR 153,400,000 of Bonds validly tendered at a fixed purchase price of 103,625%, no pro rata factor of offer will not be applied.
The Company also announces the issue on September 22, 2022 of €300,000,000 of Tier 2 bonds bearing a fixed interest rate of 6.000%, maturing on September 22, 2032 (the “New tickets”). The prospectus relating to the New Bonds is available at:
This announcement does not constitute an invitation to participate in the Tender Offer or to subscribe for the New Notes in or from any jurisdiction in or from which, or to or from any person to or from whom, it is illegal to make such an invitation under applicable securities laws. The distribution of this announcement in certain jurisdictions may be restricted by law. Persons in possession of this announcement are required to inform themselves about and observe these restrictions.
The Tender Offer and the issue of the New Notes are not being made and will not be made directly or indirectly in the United States as defined in Regulation S of the US Securities Act of 1933, as amended (the “Securities Law“) or to U.S. Persons as defined in Regulation S of the Securities Act (each a “American person“). Accordingly, copies of this document are not, and must not be, directly or indirectly, mailed or otherwise transmitted, distributed, or transmitted to the United States or any such person. New Notes to which referenced herein have not been and will not be registered under the Securities Act, and may not be offered or sold in the United States absent registration or an applicable exemption from the requirements of Registration of the Securities Act The Company does not intend to register an offering of securities in the United States or to make a public offering in the United States.
FINANCIAL CALENDAR 2021/2022
(matter to change)
9M-2022 results: October 27, 2022 (after market close)
This press release, as well as all of COFACE SA’s regulatory information, are available on the Group’s website:
For regulated information on Alternative Performance Indicators (APIs), please refer to our H1-2022 Interim Financial Report and our 2021 Universal Registration Document (see section 3.7 “Key financial performance indicators”).
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COFACE: FOR COMMERCE
COFACE SA is listed in Compartment A of Euronext Paris
DISCLAIMER – Certain statements in this press release may contain forward-looking statements, including predictions of future events, trends, plans or objectives. By their nature, these forecasts involve identified or unidentified risks and uncertainties, and can be affected by many factors that could cause actual results to differ materially from those set forth in such statements. Refer to Chapter 5 “Main risk factors and their management within the Group” of the Coface Group’s 2021 Universal Registration Document filed with the AMF on April 6, 2022 under number D22-0244 in order to obtain a description of certain major factors, risks and uncertainties likely to influence the activities of the Coface Group. The Coface Group declines any intention or obligation to publish an update of these forecasts, or to provide new information on future events or any other circumstances.
2022 09 21 – PR TO result