PARIS, April 14, 2014 (GLOBE NEWSWIRE) -- CGG (ISIN: 0000120164 - NYSE: CGG) launches today an offering of Senior Notes due 2020 in an aggregate principal amount of approximately €360 million by way of a private placement in the international capital markets.
The Company intends to use the net proceeds from this offering to finance an offer to repurchase its OCEANE convertible bonds due 2016 of €360 million in principal amount. The remaining net proceeds, if any, will be used to repay other existing indebtedness.
About CGG:CGG ( www.cgg.com ) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary business divisions of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation. CGG employs over 9,800 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers. CGG is listed on the Euronext Paris SA (ISIN: 0000120164) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG).
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