OVH Groupe in Financing of Public Share Buyback Offer

Cleary Gottlieb advised OVH Groupe in the financing of its public share buyback offer relating to 38.89 million of its own shares.

The public share buyback offer was financed through the drawdown of a five-year €450 million term loan facility and a short-term €470 million term loan facility, both raised under a term loan and revolving credit facilities agreement originally dated October 23, 2024.

In addition to the financing of the public share buyback offer and related costs, the proceeds of the financing have also been used to refinance certain existing indebtedness of OVH Groupe.

The facilities agreement also makes available to OVH Groupe a five-year €200 million revolving credit facility for the purpose of financing, notably, general corporate purposes and/or working capital requirements of the group.

Subject to market conditions, OVH Groupe intends to refinance all or part of such indebtedness through the issuance of high-yield notes so that the group has access to diversified sources of financing as well as the access and flexibility of the bond market.

The settlement of the public share buyback offer occurred on January 17, 2025.

OVHcloud is a global player and the leading European cloud provider operating over 450,000 servers within 43 data centers across four continents to reach 1.6 million customers in over 140 countries. Spearheading a trusted cloud and pioneering a sustainable cloud with the best performance-price ratio, the group has been leveraging for over 20 years an integrated model that guarantees total control of its value chain: from the design of its servers to the construction and management of its data centers, including the orchestration of its fiber-optic network. This unique approach enables OVHcloud to independently cover all the uses of its customers so they can seize the benefits of an environmentally conscious model with a frugal use of resources and a carbon footprint reaching the best ratios in the industry. OVHcloud now offers customers the latest-generation solutions combining performance, predictable pricing, and complete data sovereignty to support their unfettered growth.