White & Case Advises Bank Syndicate on Maisons du Monde Convertible Bonds Issuance

Press Release
1 min read

Global law firm White & Case LLP has advised the bank syndicate led by Citi, as global coordinator, and including Crédit Agricole CIB as joint lead manager and joint bookrunner, on the approximately €200 million issuance of bonds convertible into new shares and/or exchangeable for existing shares (OCEANE) by Maisons du Monde, a French furniture and home decor company listed on Euronext Paris.

The net proceeds of the issuance, which was launched on November 29, 2017, will be used to refinance Maisons du Monde’s existing term loan. The bonds, which were offered by way of a private placement to institutional investors, will be admitted to trading on the Euronext Access market of Euronext Paris.

The nominal unit value of the bonds has been set at €48.78, corresponding to a premium of 42.5 percent above Maisons du Monde’s reference share price on the regulated market of Euronext Paris. The bonds will be issued at par on December 6, 2017 and will mature on December 6, 2023. The bonds will bear a coupon of 0.125 percent per annum.

The White & Case team in Paris which advised on the transaction was led by partners Thomas Le Vert and Séverin Robillard and included partner Alexandre Ippolito, with support from associates Tatiana Uskova, Charles Linel and Guillaume Keusch.

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