CGG : CGG Announces The Success Of Its EU400 Million Offering Of Senior Notes

PARIS, April 16, 2014 (GLOBE NEWSWIRE) -- CGG (ISIN: 0000120164 - NYSE: CGG) announces today that it has successfully priced an offering of €400 million in aggregate principal amount of 5.875% Senior Notes due 2020. The Notes will be issued at par, resulting in a yield of 5.875%. The Notes are expected to be issued on April 23, 2014.

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 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).
Group Communications Christophe Barnini Tel: +33 1 64 47 38 11 E-mail: invrelparis@cgg.com Investor Relations Catherine Leveau Tel: +33 1 64 47 34 89 E-mail: invrelparis@cgg.com

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 Notes 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.

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