BOURBON has successfully placed its first hybrid bond issue for €100 million

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Paris, October 24, 2014

BOURBON has announced the completion of its first bond issue for €100 million of perpetual deeply-subordinated notes (Titres Super Subordonnés à Durée Indéterminée - TSSDI). This issue has produced keen interest among European professional investors and French portfolio management companies.

These perpetual notes, accounted for as equity under IFRS standards, are callable by BOURBON at par starting in October 2017. They bear a fixed semi-annual coupon of 4.70% for the first 3 years, payment of which is mandatory if dividends are paid.

"After having consolidated the group’s shareholders with the successful tender offer launched by historical shareholder JACCAR Holdings last July, with this new hybrid bond issue, we are pursuing the optimization of BOURBON’s capital structure and solidifying our financial position in accordance with our Transforming for Beyond action plan", indicates Jacques de Chateauvieux, Chairman of the Board.

The operation was conducted by Oddo & Cie, with advice being provided by White & Case LLP and is listed on the unregulated Alternext market.