CGG Announces the Success of its $165 Million Offering of Senior Notes, With a Yield-to-Worst of 6.9%
January 27 2006 - 1:01PM
PR Newswire (US)
PARIS, January 27 /PRNewswire-FirstCall/ -- Compagnie Generale de
Geophysique (ISIN: 0000120164 - NYSE: GGY) confirms today that it
has successfully priced an offering of $165 million principal
amount of 71/2% Senior Notes due 2015. The notes will be issued at
a price of 1031/4% of their principal amount, resulting in a
Yield-to-Worst of 6.9%. The notes are expected to be issued on
February 3rd, 2006. Following the Euros 209 million December 2005
rights issue, this offering will mainly enable CGG to refinance
approximately $140 million remaining under its $375 million bridge
credit facility used to finance the acquisition of Exploration
Resources. The notes will not be registered under the Securities
Act and may not be offered and sold in the United States absent
registration or an applicable exemption from the registration
requirements of the Securities Act. There will be no offering to
the public in France. For UK only: The attached document is only
being distributed to and is only directed at (i) persons who have
professionals experience in matters relating to investment who fall
within Article 19(1) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2001 (the "Order") or (ii) high net
worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2) of the Order (all such
persons together being referred to as "relevant persons"). The
investments to which this document relates are only available to,
and any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such investments, will be available only to or
will be engaged in only with, relevant persons. Any person who is
not a relevant person should not act or rely on this document or
any of its content. Persons distributing such document must satisfy
themselves that it is lawful to do so. The information included
herein contains certain forward-looking statements within the
meaning of Section 27A of the securities act of 1933 and section
21E of the Securities Exchange Act of 1934. These forward-looking
statements reflect numerous assumptions and involve a number of
risks and uncertainties as disclosed by the Company from time to
time in its filings with the Securities and Exchange Commission.
Actual results may vary materially. The Compagnie Generale de
Geophysique group is a global participant in the oilfield services
industry, providing a wide range of seismic data acquisition,
processing and geosciences services and software to clients in the
oil and gas exploration and production business. It is also a
global manufacturer of geophysical equipment. Contact : Christophe
BARNINI Tel: +33-1-64-47-38-10 /+33-1-64-47-38-11 Email :
DATASOURCE: Compagnie Generale de Geophysique (CGG) CONTACT:
Contact : Christophe BARNINI, Tel: +33-1-64-47-38-10
/+33-1-64-47-38-11, Email :
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