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CGG Announces Issuance of Senior Secured Notes and Completion of Conditions for Settlement of .
CGGApril 2, 2021 GMT
Paris, France – April 2, 2021
CGG announced today the issuance of $500 million in aggregate principal amount of 8.75% Senior Secured Notes due 2027 and €585 million in aggregate principal amount of 7.75% Senior Secured Notes due 2027 (together, the “Notes”). The Notes are guaranteed on a senior secured basis by certain subsidiaries of CGG S.A.
CGG also entered into a $100,000,000 super senior Revolving Credit Facility Agreement (the “RCF”) secured by the same security package as the Notes with its pricing linked in part to greenhouse gas emission reduction targets. No drawings have been carried out under the RCF.