Michelin: makes 2.5 billion euro bond placement
(CercleFinance.com) - Michelin announces that on Wednesday it made a bond issue totaling 2.
5 billion euros in three tranches, maturing in seven years, 12 years and 20 years respectively, the proceeds of which will be used for general corporate purposes.
These three tranches respectively amount to 750 million euros, one billion euros and 750 million euros and are accompanied by coupons of 0.875%, 1.75% and 2.50% per annum. The issue is rated A- by Standard & Poor's and A3 by Moody's.
This issue contributes to the diversification of the tyre maker's funding sources and increases its financial flexibility by lengthening the average maturity of its debt. Settlement-delivery will be on 3 September.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5 billion euros in three tranches, maturing in seven years, 12 years and 20 years respectively, the proceeds of which will be used for general corporate purposes.
These three tranches respectively amount to 750 million euros, one billion euros and 750 million euros and are accompanied by coupons of 0.875%, 1.75% and 2.50% per annum. The issue is rated A- by Standard & Poor's and A3 by Moody's.
This issue contributes to the diversification of the tyre maker's funding sources and increases its financial flexibility by lengthening the average maturity of its debt. Settlement-delivery will be on 3 September.
Copyright (c) 2018 CercleFinance.com. All rights reserved.