White & Case Advises on Bourbon's €100 Million Undated subordinated Bonds Issuance | White & Case LLP International Law Firm, Global Law Practice
White & Case Advises on Bourbon's €100 Million Undated subordinated Bonds Issuance

White & Case Advises on Bourbon's €100 Million Undated subordinated Bonds Issuance

Global law firm White & Case LLP has advised on the issuance of €100 million undated subordinated bonds by Bourbon, the France-headquartered world leader in marine services for the offshore oil and gas industry with operations in more than 50 countries.

The bonds, which were arranged by independent financial services group Oddo & Cie, have a biannual 4.7 percent coupon for the first three years which will be recalculated every three years until 2023, when a variable rate will be applicable until repayment.

The undated securities, accounted as equity under IFRS rules, are callable by Bourbon at par from October 2017. The bonds, issued on October 24, 2014, are listed on Alternext.

The White & Case team in Paris which advised on the transaction was led by partners Philippe Herbelin and Séverin Robillard with support from associate Boris Kreiss. Partner Alexandre Ippolito, supported by associate Marcus Schmidbauer, advised on tax matters.

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