Clariane Launches €333 Million Hybrid Notes Offering

Clariane has unveiled a €333 million offering in undated deeply subordinated hybrid notes. This move is aimed at refinancing its existing ODIRNANE bonds. The offering's success depends on market conditions. If completed, Clariane will use the proceeds and additional cash to repay the €332.5 million in outstanding ODIRNANE bonds, and also cover associated fees. Any remaining proceeds will be retained until used for repayment.

The hybrid notes, qualifying as equity under IFRS, aim for listing on Euronext Dublin. The offering targets non-U.S. purchasers and avoids retail investors in the EEA and the UK, focusing on professional clients. Clariane’s forward-looking statements caution that actual results may differ from projections due to potential uncertainties.