White & Case advises banks on Dassault Systèmes €1 billion bond issue and refinancing

Global law firm White & Case LLP has advised the banks on Dassault Systèmes bond issue and refinancing.

White & Case advised a banking syndicate led by BNP Paribas, Crédit Agricole CIB, MUFG and Société Générale, as global coordinators, and Bank of America, CIC, Deutsche Bank, HSBC, ING, JP Morgan and Natixis, as bookrunners, on Dassault Systèmes €1 billion bond issue, maturing on 16 June 2031.

The bonds bear a fixed annual interest rate of 3.375% and are admitted to trading on the regulated market of Euronext Paris.

The transaction was significantly subscribed by institutional investors. The proceeds of the issue will be used for general corporate purposes, including the refinancing of the company's existing €900 million 0.125% notes, maturing in September 2026.

White & Case also advised a pool of thirteen banks including BNP Paribas, Crédit Agricole CIB, ING, MUFG and Société Générale, as mandated lead arrangers and bookrunners, and Banco Bilbao, Bank of America, CIC, Crédit Lyonnais, Deutsche Bank, HSBC, J.P. Morgan and Natixis, as mandated lead arrangers, on the refinancing of Dassault Systèmes' €750 million Revolving Credit Facility, maturing in October 2026. The new facility has an initial term of five years maturing in June 2031, with two one-year extension options. It includes a €250 million swingline facility as well as an extension option (accordion) that can be increased by up to an additional €500 million.

The White & Case team in Paris which advised on the bond issuance  was led by partner Tatiana Uskova and included associate Alice Guillon. The team in Paris which advised on the refinancing of Dassault Systèmes Revolving Credit Facility was led by partners Raphaël Richard and Neeloferr Roy and included associates Adrien Fargère and Chloé Amado.

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