Rexel talks €500 million seven-year senior notes to yield 8¼% area

By Paul A. Harris

St. Louis, Dec. 10 - Rexel talked its €500 million offering of seven-year senior notes (//BB-) at the 8¼% area on Thursday, according to an informed source.

The books close at 4 a.m. ET on Friday for all accounts except for German accounts, for which books close at 6:30 a.m. ET.

The deal is expected to price thereafter.

Calyon Securities, RBS Securities Inc. and Bank of America Merrill Lynch are global coordinators and bookrunners for the Regulation S offering. BNP Paribas, HSBC and Natixis Bleichroeder are joint bookrunners.

The notes come with four years of call protection.

Proceeds will be used to refinance existing debt.

Rexel is a Paris-based manufacturer of low-voltage electrical products.

© 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.