Safran: successful 500 million euro FRN issue

(CercleFinance.com) - Safran announces this Friday that it has successfully completed a two-year floating rate note bond issue for 500 million euros.


The funds raised will finance Safran's general needs.

“It will bear a coupon of 3 month Euribor +33 basis points per annum (coupon floored at 0%) and will be issued at 100.00% of the nominal value. The offering was oversubscribed 2.5 times at this level that doesn't concede any new issue premium, showing the great confidence of investors in the strategy and the performance of Safran and its high credit standards,” the group said.

The deal's settlement/delivery is scheduled for 13 July 2018.



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