Fnac Darty Announces OCEANEs Repurchase Results

Fnac Darty S.A. has concluded its repurchase of convertible bonds, known as OCEANEs, due in March 2027. Through a reverse bookbuilding process, the company collected interest from bondholders, resulting in the repurchase of 1,915,033 OCEANEs. This represents approximately 77.6% of the total bonds initially issued.

The aggregate principal amount of the repurchased bonds is €155.2 million, with a repurchase price set at €77.25 per bond, totaling approximately €147.9 million. This financial maneuver is set for settlement on April 8, 2025, contingent upon the issuance of new €300 million senior notes due 2032.

The repurchase was orchestrated by Natixis and the repurchased bonds will be canceled according to their terms. The communication regarding this repurchase is regulated and not intended for jurisdictions such as the United States, Australia, Canada, and Japan.