Calyon acted as joint bookrunner alongside Société Générale and Lazard-Natixis in Neopost’s issue of OceaneBonds convertible into new or existing shares. The issuer of Oceanes may convert them into either new shares issued specifically for this purpose or existing shares that it is holding, for example following a share buy back (source: Vernimmen.net).   bonds for a nominal amount of EUR 261 million. With maturity of February 1^st, 2015, this issue is the result of several months’ thought and analysis by Neopost.

 

The issue was amply oversubscribed in less than two hours, for a final amount of EUR 300 million. The issuer benefited from the best conditions, a 30% share premium and a 3.75% coupon.

 

This transaction will enable Neopost to meet its general financing needs, diversify its funding sources and prolong the maturity of its financial resources.

 

“This issue strengthens our role as a top ranking bank with Neopost. It also demonstrates Calyon’s ability to advise and execute Oceane transactions under attractive conditions for the issuer,” says Christine Kerboull, Senior Banker.

 

Calyon received a mandate in June 2007 as lead arranger, bookrunner and agent for a syndicated loan of EUR 750 million, bringing together 17 banks. “Since 2007, we have very regularly offered Neopost various financing solutions to diversify its tools, investors and maturities. Work on the Oceane picked up speed during the summer thanks to the good conditions in this market,” added Christine Kerboull.

 

Neopost is Europe’s leading supplier of mail processing solutions and the second largest supplier wordwide.