Euronext Launches €425 Million Bond Offering Due 2032
Euronext has launched a new bond offering targeted at qualified investors. It includes senior unsecured bonds due in 2032. It has a nominal value of €425 million. These bonds are convertible into new shares or exchangeable for existing shares of the company.
Bond Details
The bonds are senior unsecured and issued as OCEANEs. The total nominal value of the offering stands at €425 million. Each bond carries a denomination of €100,000. The bonds mature on 30 May 2032.
Coupon and Conversion Terms
The bonds offer a fixed annual coupon between 1.5% and 2.0%. Payments will be made semi-annually, on 30 May and 30 November. The first coupon payment is scheduled for 30 November 2025. The initial conversion price will be at 30% to 35% above Euronext’s reference share price in its Paris-regulated market.
Use of Proceeds
Euronext will use the proceeds to repay part of the bridge loan used to acquire Admincontrol. The remaining funds will go toward general corporate needs.
Timeline and Trading Plans
The settlement and delivery of the bonds will occur on 30 May 2025. The company plans to list the bonds on Euronext Access in Paris. Admission to trading will take place within 30 calendar days from the issue date.
Redemption Conditions
If not converted, exchanged, redeemed, or canceled earlier, the bonds will be redeemed at par on 30 May 2032. Euronext retains the option to redeem the bonds before maturity under specific conditions.
Benefits for Traders
This offering will likely have these benefits for users:
New Trading Opportunity
Traders gain exposure to Euronext through bonds that may convert into equity. It offers fixed income and potential equity upside if the company’s share price rises above the conversion threshold.
Potential for Capital Gains
A conversion price is 30%–35% above the current share price. Investors betting on Euronext’s long-term growth could see capital appreciation if shares rise significantly by 2032.
Fixed Income with Lower Risk
The bonds pay a fixed coupon between 1.5% and 2.0% annually. Ideal for investors seeking predictable returns with less volatility than equity.
About Euronext
Euronext is a pan-European stock exchange group. It offers trading and post-trade services for equities, bonds, derivatives, commodities, and foreign exchange. The company aims to connect European economies to global capital markets. Euronext provides a single, integrated marketplace with a unified trading platform.
Summing Up
Euronext’s bond offering adds a new investment option with fixed income and equity potential. Traders and investors should watch pricing, conversion terms, and listing timelines closely.
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