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A&O Shearman advises the banks on Indigo Group’s bond tender offer and EMTN program

A&O Shearman advises the banks on Indigo Group’s bond tender offer and EMTN program
Published Date
Jun 10 2026
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Image of Julien Sebastien
Julien SebastienPartner, Paris
Image of Lorraine Miramond
Lorraine MiramondCounsel, Paris
A&O Shearman advised the banks in connection with Indigo Group’s tender offer for certain of its outstanding notes, as well as the issuance of new notes under its newly established euro medium-term notes (EMTN) program.

This transaction forms part of Indigo Group’s active debt management strategy, aimed in particular at preparing the refinancing of its bond maturities in 2028 and 2030. 
The tender offer relates to:

  • EUR800 million 1.625% notes due April 19, 2028
  • EUR650m 4.500% notes due April 18, 2030.

At the same time, INDIGO Group established an EMTN program and successfully issued EUR600m of senior unsecured fixed-rate notes under this program, bearing interest at 3.750% per annum and maturing on April 24, 2032. The net proceeds from this issuance are expected to be used, in particular, to finance the repurchase of existing notes, as well as for general corporate purposes and the partial refinancing of the group’s syndicated credit facility. The new notes are listed on the regulated market of Euronext Paris and are rated BBB by S&P Global Ratings.

“Supporting companies in accessing the capital markets is key to advancing their financing strategy and development. We are delighted to have advised the banks on these transactions for Indigo Group.”

A&O Shearman supported the banks on these transactions with a team led by partner Julien Sébastien, assisted by counsel Lorraine Miramond, and associates Aziz Ben Hamida and Henri Fang.

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