A&O Shearman on EUR800 million offering of convertible bonds (OCEANEs)

The offering was carried out by way of a public offering to qualified investors only. The settlement and delivery of the bonds is expected to take place on June, 23 2025.

The net proceeds of the offering will be used by Legrand for general corporate purposes. Legrand is a global specialist in electrical and digital building infrastructures.

The bonds are issued with a denomination of EUR100,000 each, are convertible into new shares and/or exchangeable for existing shares of Legrand and bear a fixed coupon at a rate of 1.5% per annum.

The banking syndicate was advised by A&O Shearman, with a team led in Paris by partner Olivier Thébault, with senior associate Jade Billère-Mellet and associate Bénédicte Cheyrou-Lagrèze on capital markets aspects, partner Diana Billik and London senior associate Maggie Casteel on U.S. law aspects, and partner Mathieu Vignon and senior associate Virginie Chatté on tax aspects.