RE:RE:2025 notesA Reminder:
According to the financial statements (p106) the LTD at dec 31 was 5 980 M$.
In January (completed in feb) they issued a new debt of 750 M$. +750
They reimbursed 655 M$ (396 M$ for the 2024 bonds and 259 M$ for the 2025's). The 2024 reimbursment was a redemtion of the remaining debt not a cash tender offer. The 2025 was a cash tender offer for 354 M$ but only 259 M$ has been tendered. - 655
The tuesday news is about a partial proportionate redemtion of 500 M$ of the remaining 2025 bonds. It's not an offer, The debt will be proportionnally reimbursed in march. I understand that the bond convention allow this. So,the debt will be reduced by 500 M$. -500
So, all this will bring down the gross long term debt to 5 575 M$. (the pro-forma position)