IFLR1000

CMA CGM €725 million bond issue

12/6/2015
High-yield bond/note issue
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€ 725 million

$ 799.315 million

Completed

12/6/2015

Overview:

  • French shipping company CMA CGM completed an aggregated bond issue of  €725 million. 
  • The issue consisted of €550 million of 7.75% senior notes due 2021 and and a €175 million tap issuance of 7.75% senior notes due 2021.
  • BNP Paribas, Crédit Agricole CIB, HSBC, ING, Société Générale and UniCredit Bank acted as initial purchasers.
  • The net proceeds of the offering will be used to refinance existing indebtedness of $475million 8.5% senior notes due 2017 and €325million 8.875% senior notes due 2019.

John Crabb - Journalist 

Jurisdiction:

France

Deal type:

High-yield bond/note issue

Practice area:

Capital markets : Debt

Governing law:

France

Industry sector:

Shipping

Firms:
Shearman & Sterling

Party: BNP Paribas (Initial purchaser)

Party: Crédit Agricole Corporate and Investment Bank (Initial purchaser)

Party: HSBC (Initial purchaser)

Party: ING (Initial purchaser)

Party: Société Générale (Initial purchaser)

Party: Unicredit (Initial purchaser)

Lawyers: Hervé Letréguilly, Séverine de La Courtie

Willkie Farr & Gallagher

Party: CMA CGM (Issuer)

Lawyers: Brice Pommiès, Daniel Hurstel

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