France's Rexel to briefly market €500 million seven-year notes

By Paul A. Harris

Portland, Ore., May 23 - Paris-based electrical equipment company Rexel SA began a brief roadshow for a €500 million offering of seven-year senior notes (//BB-) on Monday, according to an informed source.

The deal is expected to price on Tuesday or Wednesday.

BNP Paribas, HSBC and SG CIB are the joint global coordinators and joint bookrunners for the private offering. Credit Agricole CIB, ING and Natixis Bleichroeder are joint bookrunners.

Bayern LB, Bank of America Merrill Lynch, CM-CIC and Royal Bank of Scotland are the co-lead managers.

The notes, which are expected to settle on May 27, come with four years of call protection.

The company plans to use the proceeds to enhance its financial flexibility and extend its debt maturity profile.

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