sur ICADE (EPA:ICAD)
Icade Completes €350 Million Cash Tender Offer
Icade has successfully completed its cash tender offer, initially launched on May 14, 2024, to purchase three series of existing notes. The company has repurchased a total of €350 million out of €517.1 million tendered.
A breakdown of the repurchases includes €142.5 million from the €500 million notes maturing on November 17, 2025, with a 1.125% coupon. Additionally, €207.5 million was repurchased from the €750 million notes maturing on June 10, 2026, with a 1.75% coupon. The €600 million notes, scheduled to mature on September 13, 2027, were not repurchased.
HSBC Continental Europe and Société Générale served as bookrunners for the tender offer. The settlement is scheduled for May 28, 2024.
This strategic move aligns with Icade's ReShapE plan announced in February 2024. The company is using proceeds from the 2023 disposal of its healthcare activities to manage its debt maturity profile proactively.
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