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Airbus Group plans to sell approximately 0.83 million shares that it owns in Dassault Aviation, representing around 9.05 percent of the share capital, through a private placement by way of an accelerated bookbuilt offering.
As part of its share buyback programme, Dassault Aviation intends to purchase 502,282 shares representing around 5.5 percent of Dassault Aviation’s share capital concurrently with the Equity Placement and at the lower of the Equity Placement price and € 980.Simultaneously to the Equity Placement, Airbus Group intends to issue bonds due 2021 for a nominal amount of approximately € 1 billion, which will be exchangeable into Dassault Aviation shares at a premium of 35 percent to 40 percent above the Equity Placement price carried out by way of a private placement. With this Transaction, Airbus Group plans to fully dispose of its 23.6 percent stake in Dassault Aviation while retaining upside exposure on the Shares underlying the Bonds. In case of exchange in full of the Bonds or exercise of the Share Redemption Option, Airbus Group will no longer hold any of Dassault Aviation shares and voting rights. The Bonds will bear a coupon of 0% and will have a maturity of 5 years (except in case of an early redemption). The Bonds will be offered at a price comprised between 102.5 percent and 105.0 percent of the principal amount, corresponding to an annual yield to maturity comprised between -0.97 percent and -0.49 percent. The Bonds will be issued in principal amounts of € 100,000 per Bond and will be redeemed at par at maturity, subject to Airbus Group’s option to deliver ordinary shares of Dassault Aviation and, as the case may be, an additional amount in cash. The Bonds may be redeemed earlier at Airbus Group’s option under certain conditions. In addition, the holders of Bonds may demand early redemption of the Bonds at par in case of a free float event as described in the terms and conditions of the Bonds. The Equity Placement and the Bond Issue are targeted at eligible institutional investors with the final size of each tranche and the definitive terms to be determined following the completion of a bookbuilding process. There will be no public offering in any country. The proceeds of the Transaction will be used for the general corporate purposes of Airbus Group. More information: www.airbusgroup.com
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