By Helena Smolak

Shares in Ubisoft Entertainment tumbled after the company placed bonds convertible or exchangeable into shares.

At 0813 GMT, Ubisoft shares traded 6.9% lower at EUR27.39.

The French video game publisher said Tuesday that it raised a nominal 494.5 million euros ($541.7 million) through the bond placement. The proceeds will be used for general corporate purposes, and up to EUR250 million for the repurchase of outstanding bonds, Ubisoft said.

The bonds, which have a maturity date of Dec. 5, 2031, have a nominal value of EUR100 each and a 2.875% coupon.

Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

November 28, 2023 03:42 ET (08:42 GMT)

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