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Ubisoft calls off 500 million euros bonds tender offer over bad market conditions

Hit by game delays and cancellations, Ubisoft posts half-year net loss
Hit by game delays and cancellations, Ubisoft posts half-year net loss Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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- French video game company Ubisoft on Wednesday called off its planned 500 million euro ($526.05 million) debt buyback citing bad market conditions.

"Given the current market conditions, Ubisoft has taken the decision to withdraw its proposed tender offer on its outstanding 500,000,000 euro 1.289% existing bonds due 30 January 2023," the company said in a statement.

Ubisoft earlier this month announced its plan to buy back the bonds and issue new ones in an effort to restructure its debt.

($1 = 0.9505 euros)

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