Clifford Chance Advises Banks on Imerys Bond Buyback and New EMTN Issuance

"Clifford Chance advised the banks on Imerys' repurchase of €256.5m of an existing €600m 1.50% bond due 15 January 2027 and on a simultaneous €600m issuance of 7‑year senior unsecured notes at a 4.00% fixed coupon under Imerys' EMTN programme. Imerys was advised by CMS Francis Lefebvre. The new issue was heavily oversubscribed by French and international institutional investors."

Clifford Chance advised the banks involved in the transaction, while CMS Francis Lefebvre advised Imerys. The transaction comprised two linked operations. Imerys repurchased €256.5 million of its existing €600 million bond issue bearing interest at 1.50%, originally issued on 17 January 2017 and maturing on 15 January 2027, which was admitted to trading on the regulated market of the Luxembourg Stock Exchange. At the same time, Imerys issued new senior unsecured notes for an aggregate amount of €600 million under its EMTN programme. The new notes have a seven‑year maturity and carry a fixed annual coupon of 4.00%. The offering attracted strong demand from French and international institutional investors and was significantly oversubscribed. Clifford Chance represented the banks with a team composed by: Cédric Burford (associate), Auriane Bijon (counsel), Jessica Hadid (senior associate) and Sabrine Kadi (legal counsel). CMS Francis Lefebvre represented Imerys.

Clifford Chance Advises Banks on Imerys Bond Buyback and New EMTN Issuance

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads