Rexel sets price for Dec. 15 redemption of 3¼% notes due 2022

By Tali Rackner

Minneapolis, Dec. 13 – Rexel set the redemption price for the Dec. 15 redemption of its 3¼% senior notes due June 2022, according to a company announcement.

The notes will be redeemed at par plus an applicable premium of €17.75 per €1,000 principal amount and a total of €8,125,000 of accrued interest.

As previously reported, funding will come from a €500 million offering of new senior notes due 2025 and available cash.

Rexel said that the transactions will allow it to extend its debt maturities and lower its cost of financing.

Rexel is a Paris-based distributor of electrical equipment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.