Universal Registration Document 2021

Bonds and medium-term loan to finance the Epsilon acquisition

A euro 2.25 billion bond was issued on June 5, 2019 to finance the acquisition of Epsilon. It was issued in three tranches of euro 750 million each, at a fixed rate and in euros, each swapped into US dollars at a fixed rate.

The swaps were qualified as cash flow hedges of the bond issue in euros. The fair value of these swaps was booked in the balance sheet under “Other current receivables and current assets” and/or “Other creditors and current liabilities”. The change in the fair value of these instruments is booked in “Other comprehensive income” and transferred to the income statement as interests on bond are recognized and the variation in the liabilities in US dollars. At December 31, 2021, the fair value of these derivatives was booked in other current creditors and current liabilities for euro 97 million (compared to euro 65 million in other receivables and current assets at December 31, 2020).

A medium-term loan had also been signed on July 1, 2019, in three tranches (a USD 900 million tranche with a three-year maturity, a euro 150 million tranche with a four-year maturity; and a euro 150 million tranche with a five-year maturity). The tranches of USD 900 million and euro 150 million maturing in five years were repaid early in December 2020. The second tranche of euro 150 million maturing in four years was repaid in March 2021.

Other bonds

The other Publicis Groupe SA bonds are issued at a fixed rate and denominated in euros. The 2021 tranche of euro 700 million was repaid at term in December 2021.

Analysis by date of maturity

/ December 31, 2021