VINCI announces the successful issue of €500m of bonds exchangeable for ordinary shares of Groupe ADP due 2031

Core Viewpoint - VINCI has successfully issued €500 million of bonds exchangeable for ordinary shares of Groupe ADP, aiming to optimize its cost of capital and manage its portfolio effectively [1]. Group 1: Bond Details - The bonds have a maturity of 5 years, redeemable at their principal amount on 4 March 2031, with a coupon rate of 0.75% per annum, payable semi-annually starting from 4 September 2026 [2][3]. - The bonds were issued at an issue price of 100% of their principal amount, with an initial exchange price set at a premium of 35% above the reference share price, equating to €157.9410 per Groupe ADP share [2][5]. - If fully exchanged at maturity, VINCI will retain approximately 4.8% of Groupe ADP's share capital, subject to adjustments [3]. Group 2: Offering Process - The bonds were offered through an accelerated book building process exclusively to qualified investors, without a public offering in any country [4][20]. - VINCI has committed to a lock-up period concerning its shares in Groupe ADP for 90 days post-issue date, with certain exceptions [5]. Group 3: Financial Characteristics - Key characteristics of the bonds include a total issue amount of €500 million, a yield to maturity of 0.75% per annum, and a principal amount of €100,000 for each bond [5]. - The exchange period for the bonds will commence 41 calendar days after the issue date and will end 35 business days before the maturity date [5][31].