Legal DealFolio - Maurel and Prom - Issuance of Convertible Bonds due 2019

Herbert Smith Freehills has recently advised Etablissements Maurel and Prom, a French oil company engaged in hydrocarbon exploration and production, on the issue of net share settled bonds convertible into new shares and/or exchangeable for existing shares (ORNANE) for a nominal amount of approximately EUR220 million, raised to approximately EUR253 million after exercise in full of the over-allotment option. The nominal value of an ORNANE is fixed at EUR17.26, representing an issue premium of 40% over Maurel and Prom's reference share price on the regulated market of Euronext in Paris. They will be due on 1st July, 2019 and will bear interest at an annual nominal rate of 1.625%. The settlement-delivery of the ORNANE and their admission to trading on the Open Market of the Frankfurt Stock Exchange (Freiverkehr) took place on 11th June 2014. Herbert Smith Freehills Paris advised Etablissements Maurel and Prom, with a team led by Hubert Segain (partner) supported by Cyril Deniaud, Paul Delpech and Camille Lartigue on the corporate aspects, as well as Jean-Luc Calisti (partner), Jerome Le Berre (of counsel) and Clemence Beranger on the tax aspects, with the assistance of its Frankfurt office (Ralf Thaeter, partner, and Rudiger Hoffmann) in respect of the application for admission to trading of the ORNANE on the Open Market of the Frankfurt Stock Exchange.

Deal Date:	12-06-2014	Practice Area:	Debt Capital Markets
Deal Title:	Maurel and Prom - Issuance of Convertible Bonds due 2019	Industry:	Oil & Gas Producers
Description:	Herbert Smith Freehills has recently advised Etablissements Maurel and Prom, a French oil company engaged in hydrocarbon exploration and production, on the issue of net share settled bonds convertible into new shares and/or exchangeable for existing shares (ORNANE) for a nominal amount of approximately EUR220 million, raised to approximately EUR253 million after exercise in full of the over-allotment option. The nominal value of an ORNANE is fixed at EUR17.26, representing an issue premium of 40% over Maurel and Prom's reference share price on the regulated market of Euronext in Paris. They will be due on 1st July, 2019 and will bear interest at an annual nominal rate of 1.625%. The settlement-delivery of the ORNANE and their admission to trading on the Open Market of the Frankfurt Stock Exchange (Freiverkehr) took place on 11th June 2014. Herbert Smith Freehills Paris advised Etablissements Maurel and Prom, with a team led by Hubert Segain (partner) supported by Cyril Deniaud, Paul Delpech and Camille Lartigue on the corporate aspects, as well as Jean-Luc Calisti (partner), Jerome Le Berre (of counsel) and Clemence Beranger on the tax aspects, with the assistance of its Frankfurt office (Ralf Thaeter, partner, and Rudiger Hoffmann) in respect of the application for admission to trading of the ORNANE on the Open Market of the Frankfurt Stock Exchange.
Financial Center:	Paris	Value:	100.01-500.00
Advised Party:	Issuer	Law Firm	Herbert Smith Freehills
Issuer Jurisdiction:	France	Listing Jurisdiction:	France
Classification:	Equity-Linked Securities Convertible Bonds	Lawyer	Hubert Segain

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Debt Capital Markets Law Firms and Lawyers

Practice Areas - Debt Capital Markets Law Firms and Lawyers