This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Paris Cedex 15, France, April 28, 2014 (GLOBE NEWSWIRE) -- CGG (ISIN: 0000120164) (NYSE:CGG) launches today an offering of Senior Notes due 2022 in an aggregate principal amount of approximately $500 million by way of a private placement in the international capital markets.
The Company intends to use the net proceeds from this offering to redeem all of the $225 million outstanding principal amount of its 9.5% Senior Notes due 2016 and will use the remaining net proceeds to redeem a portion of the $400 million outstanding principal amount of its 7.75% Senior Notes due 2017.
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).
The press release shall not constitute an offer to sell or the solicitation of an offer to buy securities. There will not be any sale of these securities in any such state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or country. The securities referred to herein have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered and sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. There will be no offering of Senior Notes to the public in France. This press release may include projections and other "forward-looking" statements within the meaning of the federal securities laws. Any such projections or statements reflect the current views of CGG about further events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections.