On June 22nd, 2022, Ubisoft announced a tender offer only for holders of €500 million bonds that have an annual coupon of 1.289%. The company intends to issue new bonds later this year.
The Tensive Offer typically offers an opportunity to purchase corporate bonds, stocks, or shares under certain conditions that are set forth in the Tender Offer Memorandum document. The offer is subject to being completed if the new bonds are issued. The expiration date for the Tender Offer is July 1st 2022.
This business transaction will allow Ubisoft to lengthen their maturity profile and diversify the types of investors. The company plans to use the net proceeds of the New Bonds for general corporate purposes, like repaying old debt, and to refinance certain existing indebtedness. This is Ubisoft’s third bond market offering.