Intelligence Feed event · Credit · 2026-10-07

    Elis Converts 99.1% of €380M 2029 OCEANEs, Issuing 5.5M New Shares

    Question

    Elis Converts 99.1% of €380M 2029 OCEANEs, Issuing 5.5M New Shares

    Direct answer

    French services company Elis published the final outcome of the conversion window for its €380 million 2.25% OCEANEs due 2029. Holders tendered 3,767 out of 3,800 bonds, representing 99.13% of the outstanding tranche. The transaction resulted in the delivery of 23,569,556 shares, absorbing 18.1 million treasury shares alongside 5.5 million newly created shares, effectively de-leveraging the balance sheet ahead of maturity.

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

    Cite as: Market Ontology, “Elis Converts 99.1% of €380M 2029 OCEANEs, Issuing 5.5M New Shares”, revision 1, evidence through 2026-10-07. https://marketontology.com/market-events/2026-10-07/elis-converts-99-1-of-380m-2029-oceanes-issuing-5-5m-new-shares-f3de75

    CREDIT
    Elis Converts 99.1% of €380M 2029 OCEANEs, Issuing 5.5M New Shares
    French services company Elis published the final outcome of the conversion window for its €380 million 2.25% OCEANEs due 2029. Holders tendered 3,767 out of 3,800 bonds, representing 99.13% of the outstanding tranche. The transaction resulted in the delivery of 23,569,556 shares, absorbing 18.1 million treasury shares alongside 5.5 million newly created shares, effectively de-leveraging the balance sheet ahead of maturity.
    ELSYY
    Impact
    59
    OCT 7
    SIG
    92%
    ELSYY
    Elis Converts 99.1% of €380M 2029 OCEANEs, Issuing 5.5M New Shares
    French services company Elis published the final outcome of the conversion window for its €380 million 2.25% OCEANEs due 2029. Holders tendered 3,767 out of 3,800 bonds, representing 99.13% of the outstanding tranche. The transaction resulted in the delivery of 23,569,556 shares, absorbing 18.1 million treasury shares alongside 5.5 million newly created shares, effectively de-leveraging the balance sheet ahead of maturity.
    → Converting €380M of 2.25% debt into 23.6M shares extinguishes annual cash interest expense while causing modest equity dilution from 5.5M newly issued shares.
    Impact
    French services company Elis published the final outcome of the conversion window for its €380 million 2.25% OCEANEs due 2029. Holders tendered 3,767 out of 3,800 bonds, representing 99.13% of the outstanding tranche. The transaction resulted in the delivery of 23,569,556 shares, absorbing 18.1 million treasury shares alongside 5.5 million newly created shares, effectively de-leveraging the balance sheet ahead of maturity.
    Affected
    ELSYY
    Transmission
    Converting €380M of 2.25% debt into 23.6M shares extinguishes annual cash interest expense while causing modest equity dilution from 5.5M newly issued shares.

    How this development reaches the affected companies

    AssetExposure and channelDirectionEvidence
    ELSYYdebt reduction versus dilution from 5.5M newly issued common sharesMixed1-5dElis confirmed settlement of 3,767 convertible bonds for 23.57M shares including 5.5M new issuances.

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    What happened next

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

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