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GBL: completes 500 million euro bond sale

( - Groupe Bruxelles Lambert on Thursday completed a bond offering to raise 500 million euros, taking advantage of favorable lending conditions to help extend the maturity of its debt.

After the market closed, GBL said the bonds will carry a coupon of 0.125%, maturing in January 2031.

Despite this low return, the bond was oversubscribed more than 3.5 times, the Belgian portfolio company said.

The holding firm noted that the proceeds will be used for general corporate purposes, while further extending the average maturity of its debt.

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