Capgemini : successfully prices a €3.5 billion bond issue

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Vincent Biraud
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Capgemini successfully prices a €3.5 billion bond issue

Paris, 8 April 2020 - Capgemini announces that it successfully priced on April 8, 2020, a total of €3.5 billion bonds comprising four tranches:

• €500 million 2-year notes (the 2022 tranche), with a coupon of 1.250% (issue price 99.794%),
• €800 million 6-year notes (the 2026 tranche), with a coupon of 1.625% (issue price 99.412%),
• €1 billion 9-year notes (the 2029 tranche), with a coupon of 2.000% (issue price 99.163%) and
• €1.2 billion 12-year notes (the 2032 tranche), with a coupon of 2.375% (issue price 99.003%).

This bond offering was a great success with an oversubscription of about 4.5 times.

Carole Ferrand, Chief Financial Officer of Capgemini, said: “The strong interest of the financial markets generated by this bond issue, in the current market context marked by the Covid‑19 crisis, demonstrates investors' confidence in the quality of Capgemini's financial profile. It is also an illustration of the support for the strategy that led the Group to acquire Altran in order to position itself as a leader in the digital transformation of industrial and technology companies. Lastly, this refinancing transaction does extend the average maturity of our indebtedness without increasing its overall amount”.

The proceeds of this bond issue will be used to refinance the bridge loan entered into in the context of the acquisition of Altran Technologies and for general corporate purposes of the Group, including the redemption of the €676 million principal amount outstanding under the bonds maturing on July 1, 2020 (ISIN FR0012821932). Capgemini can redeem such latter bonds at par at any time since April 1 and until July 1, 2020.

The newly issued bonds will be rated BBB by Standard & Poor's, in line with the BBB/stable outlook rating recently assigned to Capgemini.

This transaction fully complies with the financing strategy of the Altran acquisition as announced in June 2019. Capgemini is thus taking advantage of attractive conditions prevailing in bond markets, in spite of the Covid-19 sanitary crisis, to refinance the Altran acquisition and extend the average maturity of its debt.

Disclaimer

This press release and the information contained herein do not constitute a public offer or an offer to subscribe or a solicitation of an order to purchase or subscribe for the securities in the United States or in any other country, or an invitation to accept the public offer mentioned in this press release. This press release and the information contained therein do not constitute a public offer or an offer to subscribe or a solicitation of an order to purchase or subscribe for the securities in the United States or in any other country, or an invitation to accept the public offer mentioned in this press release. The publication, broadcasting or distribution of this press release in certain countries may be subject to legal or regulatory restrictions and the persons in possession of this press release must inform themselves about and comply with such restrictions.

This press release does not constitute an offer to sell the bonds of Capgemini SE in the United States or any other country. The bonds of Capgemini SE may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Capgemini SE has not registered and does not intend to register the offer referred to in this press release or any part thereof in the United States or to make any public offer of its bonds in the United States. The public offer referred to in this press release is being made solely by the offeror referred to in this press release. The public offer is not being made to (and no offer of securities will be accepted from) bondholders established in any jurisdiction (including the United States, Canada, Japan or Australia) in which the launch of such an offer or its acceptance would not comply with the provisions of the laws relating to financial markets.

This press release may contain information that may be deemed to be forward-looking statements concerning Capgemini SE's financial condition, results of operations, business, strategy and plans. Although Capgemini SE believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, most of which are outside of Capgemini SE's control, including risks relating to competition and regulatory approvals, as well as the risks described in the documents filed by Capgemini SE with the Autorité des Marchés Financiers and available in English or French on Capgemini SE's website (www.capgemini.com). Investors and security holders may obtain a free copy of the documents filed by Capgemini SE with the Autorité des Marchés Financiers at www.amf-france.org or directly on Capgemini SE's website. The forward-looking statements contained in this document are made as of the date hereof and Capgemini SE reserves the right to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Capgemini
Capgemini is a global leader in consulting, digital transformation, technology, and engineering services. The Group is at the forefront of innovation to address the entire breadth of clients’ opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year+ heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. Today, it is a multicultural company of 270,000 team members in almost 50 countries. With Altran, the Group reported 2019 combined revenues of €17 billion.
Visit us at www.capgemini.com. People matter, results count.

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