Intelligence Feed event · Credit · 2026-10-07

    Elis confirms 99.13% conversion of 380 million euro 2029 OCEANE convertible bonds

    Question

    Elis confirms 99.13% conversion of 380 million euro 2029 OCEANE convertible bonds

    Direct answer

    French multi-service provider Elis disclosed the outcome of the conversion period for its 380 million euro 2.25% OCEANE bonds due 2029. Holders tendered 3,767 of the 3,800 bonds in circulation. The conversion resulted in the delivery of 23,569,556 shares, funded primarily through existing treasury holdings (18.1 million) alongside 5.5 million newly issued shares. Only 33 bonds remain outstanding.

    Original publisher
    Market Ontology
    Evidence through
    2026-10-07
    Published
    2026-10-20
    Revision
    1 · 2026-10-20

    Cite as: Market Ontology, “Elis confirms 99.13% conversion of 380 million euro 2029 OCEANE convertible bonds”, revision 1, evidence through 2026-10-07. https://marketontology.com/market-events/2026-10-07/elis-confirms-99-13-conversion-of-380-million-euro-2029-oceane-convertible-bonds-85903c

    CREDIT
    Elis confirms 99.13% conversion of 380 million euro 2029 OCEANE convertible bonds
    French multi-service provider Elis disclosed the outcome of the conversion period for its 380 million euro 2.25% OCEANE bonds due 2029. Holders tendered 3,767 of the 3,800 bonds in circulation. The conversion resulted in the delivery of 23,569,556 shares, funded primarily through existing treasury holdings (18.1 million) alongside 5.5 million newly issued shares. Only 33 bonds remain outstanding.
    ELSYY
    Impact
    60
    OCT 7
    SIG
    88%
    ELSYY
    Elis confirms 99.13% conversion of 380 million euro 2029 OCEANE convertible bonds
    French multi-service provider Elis disclosed the outcome of the conversion period for its 380 million euro 2.25% OCEANE bonds due 2029. Holders tendered 3,767 of the 3,800 bonds in circulation. The conversion resulted in the delivery of 23,569,556 shares, funded primarily through existing treasury holdings (18.1 million) alongside 5.5 million newly issued shares. Only 33 bonds remain outstanding.
    → Debt-to-equity conversion extinguishes 380 million euros in principal liabilities, reducing annual cash interest expense while adding 5.5 million new shares to the diluted share count.
    Impact
    French multi-service provider Elis disclosed the outcome of the conversion period for its 380 million euro 2.25% OCEANE bonds due 2029. Holders tendered 3,767 of the 3,800 bonds in circulation. The conversion resulted in the delivery of 23,569,556 shares, funded primarily through existing treasury holdings (18.1 million) alongside 5.5 million newly issued shares. Only 33 bonds remain outstanding.
    Affected
    ELSYY
    Transmission
    Debt-to-equity conversion extinguishes 380 million euros in principal liabilities, reducing annual cash interest expense while adding 5.5 million new shares to the diluted share count.

    How this development reaches the affected companies

    AssetExposure and channelDirectionEvidence
    ELSYYdeleveraging and interest expense reduction on convertible retirementUp1-4wElis retired 99.13% of its 380 million euro 2.25% convertible debt tranche.

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    What happened next

    Price follow-up pending — no stored daily closes for these assets yet.

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