Global law firm White & Case LLP has advised a banking syndicate on a €4 billion bonds issuance by Capgemini, one of world's leading business and technology services firms.
The first in four tranches has a principal amount of €1 billion with a floating-rate, three-month Euribor plus 0.30% and mature in 2027. The second tranche for a principal amount of €500 million has an annual coupon of 2.50% and mature in 2028. The third tranche has a principal amount of €1.250 billion with an annual coupon of 3.125% and will mature in 2031. The fourth tranche for a principal amount of €1.250 billion has an annual coupon of 3.50% and will mature in 2034.
This bond offering was more than three times oversubscribed and the proceeds will be used to finance the acquisition of WNS, refinance Capgemini's financial debt and for general corporate purposes. Each of the fixed rate bonds provides for an acquisition event call option related to the WNS acquisition.
The White & Case team in Paris which advised on the transaction was led by partners Séverin Robillard and Tatiana Uskova and included associate Romain Bruno.
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