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Fitch: Rexel unaffected
Fitch Ratings said Rexel SA's planned $100 million add-on to its $400 million 6 1/8% notes due Dec. 15, 2019 does not affect the BB rating assigned to the notes nor the group's BB issuer default rating.
The proceeds will be used for general corporate purposes including the refinancing of existing debt and funding of bolt-on acquisitions.
The agency said this add-on does not increase the net debt of the group nor does it affect the group's credit ratios in any meaningful way.
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