Wendel: successful E300m bond issue
(CercleFinance.com) - Wendel announces the successful completion of a 300-million-euro bond issue, which will mature in April 2026 that has a coupon of 1.
375%.
The issue has been highly successful with investors, having been
oversubscribed to by over seven times. The bonds were mainly placed with
French (27%), German (14%) and British (12%) investors.
"Proceeds of this issue will be used for general corporate purposes and
towards the early repayment in whole of bonds maturing in April 2020 and
in January 2021," the group said.
"These two transactions will enable Wendel to extend its debt maturities
to 4.4 years while also reducing its gross debt to E2,312 million".
Copyright (c) 2019 CercleFinance.com. All rights reserved.
375%.
The issue has been highly successful with investors, having been
oversubscribed to by over seven times. The bonds were mainly placed with
French (27%), German (14%) and British (12%) investors.
"Proceeds of this issue will be used for general corporate purposes and
towards the early repayment in whole of bonds maturing in April 2020 and
in January 2021," the group said.
"These two transactions will enable Wendel to extend its debt maturities
to 4.4 years while also reducing its gross debt to E2,312 million".
Copyright (c) 2019 CercleFinance.com. All rights reserved.