Global law firm White & Case LLP has advised Crédit Agricole S.A. on its combined launch of a private placement by way of accelerated bookbuilding of Eurazeo shares and an issue of zero coupon bonds due 2016 exchangeable for Eurazeo existing shares.
Crédit Agricole S.A. sold 3.2 million Eurazeo shares under the private placement, representing approximately 4.7 percent of Eurazeo's share capital. Following this sale, the residual position of Crédit Agricole S.A. is approximately 13.6 percent of Eurazeo's share capital.
It also successfully placed a bond issue exchangeable for Eurazeo shares for a nominal amount of approximately €337 million following the exercise in full of the over-allotment option granted to the members of the bank syndicate.
The bonds will be redeemed at par at maturity (except in case of early redemption) subject to Crédit Agricole S.A.'s option to deliver shares of Eurazeo and an additional amount in cash.
Settlement of the shares sold under the private placement took place on November 27, 2013. Settlement of the bonds took place on December 6, 2013 and the admission of the bonds to trading on the Euro MTF market of the Luxembourg Stock Exchange took place on December 6, 2013.
The shares and the bonds have been offered exclusively by way of a private placement, through an accelerated bookbuilding process, in France and outside France, with the exception of the United States of America, Canada, Australia and Japan.
The placement of the shares and the issue of the bonds have been led by a bank syndicate including Crédit Agricole Corporate and Investment Bank, as sole Global Coordinator and Joint Bookrunner, and Goldman Sachs International, as Joint Bookrunner.
The White & Case capital markets team in Paris which advised on this transaction was led by partners Philippe Herbelin, Séverin Robillard and Thomas Le Vert with the support of associates Elsa Imbernon, Kevin Paviet-Salomon, Bénédicte Braquehaye, Antonin Deslandes and Adeline Poucheparadj. US law aspects were advised by partner Colin Chang and tax law aspects by partner Alexandre Ippolito and associate Marcus Schmidbauer.
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