CMS Bureau Francis Lefebvre advised Homair Vacances on its public bond (IBO) issue

CMS Bureau Francis Lefebvre acted as legal advisor to Homair Vacances for the company's public bond issue (IBO – initial bond offering). The lead manager was Portzamparc Société de Bourse.

Homair Vacances successfully completed this transaction on 7 May 2013, issuing €15,027,300 worth of bonds bearing interest at the rate of 6.5% per year over 6 years, which is the largest IBO to date.

Recently launched by NYSE Euronext, the IBO is original in that it uses certain techniques specific to initial public offerings (IPO) on equity markets, with recourse to a centralisation of orders received under the firm price offer to the public in France and a global placement with institutional investors.

For the firm price offer, demand totalled 23,294 bonds, i.e. €2,329,400, and was paid in full. For the overall investment, demand totalled 126,979 bonds, i.e. €12,697,900, and was also paid in full.

Like the Homair Vacances shares, the bonds issued under the IBO are listed on the NYSE Euronext Alternext market in Paris. The prospectus relating to this issue was authorised by the French Financial Markets Authority on 9 April 2013 under no. 13-147.

For this transaction, the CMS Bureau Francis Lefebvre team included Marc-Etienne Sébire, Lawyer and Head of Capital Markets, Rosetta Ferrère and Yaël Fitoussi, Lawyers.

For more information, please contact:

• Nicolas Merigeau, NewCap
  [email protected]
  +33 1 44 71 94 98
  
• CMS Bureau Francis Lefebvre
  Florence Jouffroy, Marketing and Communication Director
  Laetitia Mostowski, External Communication Manager
  [email protected], [email protected]
  +33 1 47 38 40 32 / 40 74