Tikehau Capital’s €610 Million Rights Offering

Cleary Gottlieb is advising Tikehau Capital in connection with its announced €610 million rights offering, which could be increased to up to €700 million if the extension clause is exercised in full.

The rights offering was launched on July 3, 2017, and is expected to close on July 26, 2017.

The rights offering includes a public offering in France and an international offering to institutional investors outside the United States in accordance with Regulation S under the Securities Act of 1933. A placement agreement has been entered into by Tikehau Capital with BNP Paribas, Citigroup Global Markets Limited and Natixis as joint global coordinators and joint bookrunners.

Before the launch of the rights issue, Tikehau Capital has received subscription commitments from certain current shareholders and other institutional investors. Total commitments represent approximately 91 percent of the rights offering, without taking into account the exercise of the extension clause.

The proceeds from the rights issue will primarily be used to finance Tikehau Capital’s next phase of development and to accelerate its growth. Tikehau Capital intends to invest in funds and strategies that it intends to launch; finance its growth operations, develop new and existing strategies, consolidate and expand its operations; and seize opportunities for external growth in France and abroad.