Clifford Chance has advised Dassault Systèmes on its successful €1 billion bond issuance and the concurrent refinancing of its revolving credit facility.
The bond offering comprises a single tranche of €1 billion senior unsecured notes with a tenor of five years, bearing a fixed annual coupon of 3.375% and maturing on 16 June 2031.
The bonds have been admitted to trading on Euronext Paris. The transaction was significantly oversubscribed by institutional investors. Net proceeds will be used for general corporate purposes, including the refinancing of the company’s existing €900 million 0.125% notes maturing in September 2026. BNP Paribas, Crédit Agricole CIB, MUFG and Société Générale acted as global coordinators, with Bank of America, CIC, Deutsche Bank, HSBC, ING, JP Morgan and Natixis acting as joint bookrunners.
In parallel, Dassault Systèmes refinanced its €750 million revolving credit facility maturing in October 2026. The new facility has an initial term of five years maturing in June 2031, with two one-year extension options, and includes a €250 million swingline facility as well as an accordion feature allowing the total commitments to be increased by up to an additional €500 million. This transaction was also oversubscribed by a syndicate of core banks.
The Clifford Chance team was led by Cédric Burford and Auriane Bijon, partners, with Jessica Hadid and Batoul Laanani, senior associates, and Sabrine Kadi, associate.
