Total $1.2 billion synthetic 0.5% convertible notes

25/11/2015
Convertible and hybrid securities, Derivatives

Af 1.2 billion

$ 1.276 billion

Completed

25/11/2015


Overview:

  • French oil and gas group Total successfully issued $1.2 billion synthetic 0.5% convertible notes due December 2022. 
  • The bond is a non-dilutive cash convertible issuance, and is the first of its kind in France to be hedged through an ISDA call option. 
  • Crédit Agricole Corporate and Investment Bank, BNP Paribas and JPMorgan acted as joint lead managers. 

John Crabb - Journalist 

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